Safe Harbour Rules

India's apex IT industry body Nasscom has batted for tweaks in safe harbour rules and widening the scope for utilisation of SEZ reinvestment reserves in its Budget wishlist, while advocating for creation of a central deeptech fund to bolster startup ecosystem in India. Creation of a grant framework for the deeptech ecosystem, and making the deferment of the time of payment of tax on Employee Stock Option Plan available to employees of all DPIIT-recognized startups also tops the Budget expectations of the industry. The Union Budget for financial year 2025-26 is scheduled to be presented in Parliament by Finance Minister Nirmala Sitharaman on February 1, 2025. For the USD 250 billion export-led Indian IT industry, the Budget comes amid continued global macro headwinds, geopolitical risks, and growing unease about possibility of sudden policy and tariff moves by the US, where President Donald Trump has promised to script a new, glorious chapter for America with his headline-grabbing ..

Those who are aggrieved by this can file FIRs against such platforms and safe harbour/immunity under Section 79 will not apply to these cases," said the minister

Time to ease up on non-exec chairman and directors? Can brands create exclusive retail zones in India? Can IT stocks trigger a market correction? What are safe harbour rules? Answers here

The Central Board of Direct Taxes (CBDT) has notified changes to Rules 10TD and 10TE of Income Tax Rules relating to Safe Harbour Rules

Experts check out whether the easing of rules will reduce transfer pricing litigation