On 17 June 2022, Central Board of Direct Taxes (‘CBDT’) issued Notification No. 66 /2022/F. No. 370142/26/2022-TPL. Vide this Notification, the CBDT has extended the Safe Harbour Rules (‘SHR’) to Assessment Year (‘AY’) 2022-23 relevant to the previous year 2021-22.
The amendment has been made in sub rule (3B) of rule 10TD of Income-tax Rules, 1962 to substitute the words and figures “assessment years 2020-21, 2021-22 and 2022-23”.
Pursuant to the amendment, the SHR as applicable to AYs 2020-21 and 2021-22 shall also continue to apply for AY 2022-23.
Please find our newsflash summarising the rates applicable for AY 2022-23.