{"id":1455,"date":"2015-02-06T00:00:00","date_gmt":"2015-02-05T18:30:00","guid":{"rendered":""},"modified":"2015-12-29T16:46:27","modified_gmt":"2015-12-29T11:16:27","slug":"cbdt-notified-safe-harbour-rules-for-specified-domestic-transactions","status":"publish","type":"post","link":"https:\/\/taxclick.org\/type\/income-tax\/cbdt-notified-safe-harbour-rules-for-specified-domestic-transactions\/","title":{"rendered":"CBDT notified Safe Harbour Rules for Specified Domestic Transactions"},"content":{"rendered":"
\n
\n

<\/a>[TO BE PUBLSIHED IN THE GAZETTE OF
\nINDIA EXTRAORDINARY, PART <\/span>II,SECTION 3, SUB-SECTION (ii)]<\/span> <\/span><\/p>\n

GOVERNMENT OF INDIA<\/strong> <\/span><\/p>\n

MINISTRY OF FINANCE<\/strong> <\/span><\/p>\n

DEPARTMENT OF REVENUE<\/strong> <\/span><\/p>\n

[CENTRAL BOARD OF DIRECT TAXES]<\/strong> <\/span><\/p>\n

Notification<\/strong> <\/span><\/p>\n

New Delhi, the 4th<\/sup>February,
\n2015<\/span> <\/span><\/p>\n

INCOME \u2013 TAX<\/strong><\/span><\/p>\n

 <\/span><\/p>\n

S.O.350 (E)In exercise of the powers
\nconferred by sections 92CB and 92D read with section 295 of the Income-tax Act,
\n1961(43 of 1961), the Central Board of Direct Taxes hereby makes the following
\nrules further to amend the Income-tax Rules, 1962, namely:-<\/span><\/p>\n

 <\/span><\/p>\n

1.                
\n<\/span><\/span>(1) These rules may be called the Income-tax
\n(2 nd Amendment), Rules, 2015. <\/p>\n

 <\/span><\/p>\n

(2)         
\n<\/span>They shall come into force from the date of
\ntheir publication in the Official Gazette. <\/p>\n

 <\/span><\/p>\n

2.           
\n<\/span>In
\nthe Income-tax Rules, 1962, — <\/span><\/p>\n

 <\/span><\/p>\n

(A)        
\n<\/span>in
\nPart-II, in sub-part D relating to special cases,– <\/span><\/p>\n

 <\/span><\/p>\n

(1) 
\n<\/span>in
\nrule 10 D,– <\/span><\/p>\n

 <\/span><\/p>\n

(a)   <\/span>after
\nsub-rule (2), the following sub-rule shall be inserted, namely:- <\/span><\/p>\n

\u201c(2A) Nothing contained in sub-rule (1), in so far as it
\nrelates to an eligible specified domestic transaction referred to in rule 10
\nTHB , shall apply in a case of an eligible assessee referred to in rule 10 THA
\nand, the said eligible assessee, shall keep and maintain the following
\ninformation and documents, namely:- <\/p>\n

 <\/span><\/p>\n

(i)       <\/span>a
\ndescription of the ownership structure of the assessee enterprise with details
\nof shares or other ownership interest held therein by other enterprises; <\/span><\/p>\n

(ii)   
\n<\/span><\/span>a
\nbroad description of the business of the assessee and the industry in which the
\nassessee operates, and of the business of the associated enterprises with whom
\nthe <\/span>assessee has transacted;<\/p>\n

<\/span><\/p>\n

 <\/span><\/p>\n

(iii)
\nthe nature and terms (including prices) of specified domestic transactions
\nentered into with each associated <\/span>enterprise
\nand the quantum and the value of each such transaction or class of such
\ntransaction;<\/span><\/p>\n<\/div>\n

 <\/p>\n

(iv)   a
\nrecord of proceedings if any before the regulatory commission and orders of
\nsuch commission relating to the specified domestic transaction; <\/p>\n

(v)       a
\nrecord of the actual working carried out for determining the transfer price of
\nthe specified domestic transaction; <\/p>\n

(vi)     the
\nassumptions, policies and price negotiations, if any, which have critically
\naffected the determination of the transfer price; <\/p>\n

(vii)    any
\nother information, data or document, including information or data relating to
\nthe associated enterprise, which may be relevant for determination of the
\ntransfer price.\u201d; <\/p>\n

 <\/p>\n

(b)in sub-rule (3),
\nfor the word, brackets and figure  \u201csub-rule (1)
\n\u201d, the word, brackets, figures and letter \u201csub-rules (1) and (2A)\u201d shall be
\nsubstituted;<\/p>\n

 <\/p>\n

(c) in sub-rule (4) and in the proviso to sub-rule
\n(4), for the words, brackets and figures \u201csub-rules (1) and (2)\u201d,wherever they
\noccur, the words , brackets, figures and letter \u201csub-rules (1), (2) and (2A)\u201d
\nshall be substituted;<\/p>\n

 <\/p>\n

(d)in sub-rule (5), for the words,
\nbrackets and figures   \u201csub-rules (1)
\nand (2)\u201d, the words, brackets, figures and letter \u201csub-rules (1), (2) and (2A)\u201d
\nshall be substituted; <\/p>\n

 <\/p>\n

 <\/p>\n

(2)    after rule
\n10 T, in the heading, for the words \u201cSafe Harbour Rules\u201d, the words \u201c Safe
\nHarbour Rules for International Transactions\u201d shall be substituted; <\/p>\n

 <\/p>\n

(3) 
\nafter
\nrule 10TG, the following rules shall be inserted, namely:- <\/p>\n

 <\/p>\n

\u2018\u201cSafe Harbour Rules for Specified Domestic
\nTransactions\u201d<\/strong><\/p>\n

Download Complete Rule<\/a><\/p>\n

<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

[TO BE PUBLSIHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II,SECTION 3, SUB-SECTION (ii)]  GOVERNMENT OF INDIA  MINISTRY OF FINANCE  DEPARTMENT OF REVENUE  [CENTRAL BOARD OF DIRECT TAXES]  Notification  New Delhi, the 4thFebruary, 2015  INCOME \u2013 TAX S.O.350 (E)In exercise of the powers conferred by sections 92CB and 92D read with section 295 of the Income-tax … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[4],"tags":[60],"yoast_head":"\nCBDT notified Safe Harbour Rules for Specified Domestic Transactions - All About Finance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/taxclick.org\/type\/income-tax\/cbdt-notified-safe-harbour-rules-for-specified-domestic-transactions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CBDT notified Safe Harbour Rules for Specified Domestic Transactions - All About Finance\" \/>\n<meta property=\"og:description\" content=\"[TO BE PUBLSIHED IN THE GAZETTE OF INDIA EXTRAORDINARY, PART II,SECTION 3, SUB-SECTION (ii)]  GOVERNMENT OF INDIA  MINISTRY OF FINANCE  DEPARTMENT OF REVENUE  [CENTRAL BOARD OF DIRECT TAXES]  Notification  New Delhi, the 4thFebruary, 2015  INCOME \u2013 TAX S.O.350 (E)In exercise of the powers conferred by sections 92CB and 92D read with section 295 of the Income-tax ... 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