Indian Committee on safe harbour constituted

Tax Controversy & Dispute Resolution ()

"The Indian Government had provided for the introduction of safe harbours in the Indian transfer pricing regulations vide the Finance Act 2009. The term ""safe harbour"" was defined to mean the circumstances in which the revenue authorities shall accept the transfer price declared by a taxpayer.

However, no specific safe harbour rules were prescribed thereafter. Consequently, these provisions remained inoperative in India till date."