 "Safe harbour rules for IT sector to come today")
The entire IT sector will be divided into six groups for the purpose.
The safe harbour rules may prescribe 20 per cent addition to cost for the purpose of tax calculation. In terms of the rules, once multi-national corporations (MNCs) give their cost estimate, the tax department will not go into detail.
These rules would prescribe what the tax department thinks are the operational profits of businesses. Unless an MNC declares less profits from India , the value of their cross-border transactions will not be audited.
You’ve reached your limit of 10 free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%