The draft safe harbour rules have been posted for comments by 26.08.2013.

[TO BE PUBLISHED 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 day of August, 2013

INCOME – TAX

In exercise of the power conferred under section 92CB read with section 295 of the Income-tax Act, 1961, the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:-.

1. (1) These Rules may be called the Income-tax (….Amendment), Rules, 2013

(2) These shall come into force from the date of their publication in the official Gazette.

2. In the Income-tax Rules, 1962 (hereinafter referred to as Rules), –

(A) In Part-II, in sub-part D, after rule 10T, the following shall be inserted, namely:-

‘Safe Harbour Rules’

Definitions

10TA. For the purposes of this rule and rule 10TB to rule 10TG, –

(i) “Software development services” mean the following, namely:-

(a) business application software and information system development using known methods and existing software tools;

(b) support for existing systems;

(c) converting and/or translating computer languages;

(d) adding user functionality to application programmes;

(e) debugging of systems;

(I) adaptation of existing software;

(g) preparation of user documentation, but does not include the research and development services ;

To Read More – Download Draft Safe Harbour Rules for Comments

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