Case law › Notifications › 2023 › Notification No. 58/2023/ F. No. 370142/26/2023-TPL] / GSR 595(E)

Notification 9 August 2023

Notification No. 58/2023/ F. No. 370142/26/2023-TPL] / GSR 595(E)

579(अ) तारीख 1 अगस्ट्त, 2023 द्वारा सिोधन दकया गया था ।

What this is

Notification No. 58/2023/ F. No. 370142/26/2023-TPL] / GSR 595(E) was published on 9 August 2023. Its subject is 579(अ) तारीख 1 अगस्ट्त, 2023 द्वारा सिोधन दकया गया था ।.

This amends the Income-tax Rules. What it changes is the Rules, not the Act — and a rule can never take away what the section gives.

What it does

The Income-tax (Fifteenth Amendment) Rules, 2023, made under section 295 read with sub-section (2) of section 92CB of the Income-tax Act, 1961, amend sub-rule (3B) of rule 10TD of the Income-tax Rules, 1962. For the words and figures "assessment years 2020-21, 2021-22 and 2022-23", the words and figures "assessment years 2020-21, 2021-22, 2022-23 and 2023-24" are substituted. The safe harbour covered by that sub-rule is thereby carried forward to assessment year 2023-24.

Why it was issued

The Explanatory Memorandum states that the amendment is effective from 1 April 2023 and applies to assessment year 2023-24 relevant to previous year 2022-23, and certifies that no person is adversely affected by giving the rules retrospective effect.

Who it reaches

Eligible assessees opting for safe harbour in respect of international transactions for assessment year 2023-24
Transfer Pricing Officers examining safe harbour options
Chartered accountants advising on safe harbour eligibility

The provisions it speaks to

Left, the provision of the Income-tax Act, 1961 as the instrument itself names it. Right, the section of the Income-tax Act, 2025 that the department’s own concordance maps it to — which is where the same ground is now covered.

Under the 1961 Act	Now
s.92CB	s.167
s.295	s.533

The instrument, as the Board published it

The department publishes this one only as a PDF, so the words below were read out of that PDF by machine. That reading can carry its own mistakes — a misread number, a broken line. Check the signed document before you rely on a figure in it.

579(अ) तारीख 1 अगस्ट्त, 2023 द्वारा सिोधन दकया गया था ।
MINISTRY OF FINANCE
(Department of Revenue)
(CENTRAL BOARD OF DIRECT TAXES)
NOTIFICATION
New Delhi, the 9th August, 2023
INCOME-TAX
G.S.R. 595(E).—In exercise of the powers conferred by section 295 read with sub-section (2) of section 92CB of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules further to amend the Income-tax Rules, 1962, namely:___

1. Short title and commencement. - (1) These rules may be called the Income-tax (Fifteenth Amendment) Rules, 2023.
(2) They shall deemed to have come into force from the 1st day of April 2023.

2. In the Income-tax Rules, 1962, in rule 10TD, in sub-rule (3B), for the words and figures "assessment years 2020-21, 2021-22 and 2022-23", the words and figures "assessment years 2020-21, 2021-22, 2022-23 and 2023-24" shall be substituted.

[Notification No. 58/2023/ F. No. 370142/26/2023-TPL]
SOURABH JAIN, Under Secy.

Explanatory Memorandum: This amendment is effective from 1st day of April, 2023 and applies to assessment year 2023-24 relevant to previous year 2022-23. Accordingly, it is hereby certified that no person is being adversely affected by giving retrospective effect to these rules.

Note: The principal rules were published in the Gazette of India, Extraordinary, Part-II, section-3, sub-section (ii) vide number S.O. 969 (E) dated the 26th March, 1962 and were last amended vide notification number G.S.R. 579 (E), dated 1st August, 2023.

Uploaded by Dte. of Printing at Government of India Press, Ring Road, Mayapuri, New Delhi-110064
and Published by the Controller of Publications, Delhi-110054.

What it changes

The rule numbers are the 1962 Rules’ own, as the notification names them. The right-hand column is the department’s own mapping into the Income-tax Rules, 2026, which renumbered nearly everything.

Rule of the 1962 Rules	Now, in the 2026 Rules
Rule 10TD	rule 89

From when

1 April 2023, retrospectively.

What to watch

The rules are deemed to have come into force from 1 April 2023, that is retrospectively.
Only the list of assessment years in rule 10TD(3B) is extended; the substance of the safe harbour and its conditions are untouched.
The extension is by one year only, to assessment year 2023-24; later years are not covered by this amendment.
The Note records that the principal rules were last amended vide G.S.R. 579(E) dated 1 August 2023.

Where you meet it

In an option for safe harbour exercised for assessment year 2023-24 and in the transfer pricing examination that follows.

What it names

Rules it names. Rule 10TD of the Income-tax Rules, 1962. The 1962 Rules were replaced by the Income-tax Rules, 2026, which renumbered nearly everything: a rule number quoted here almost never means the same rule today.

On the same provision

Other instruments in this library that name the same provision of the 1961 Act. They are not necessarily still operative, and a later one may have replaced an earlier one without saying so.

Notification No. 21/2025 [F. No. 370142/6/2025-TPL] / GSR 193(E) — Ministry of Finance 25 March 2025
Notification No. 117/2021 [F. No. 370142/44/2021-TPL] / GSR 661(E) — Ministry of Finance 24 September 2021
Notification No. 90/2015 [F.No. 142/7/2014-TPL] / SO 3312(E) — Ministry of Finance 8 December 2015
Notification No. 11 2015 [F.No. 142/7/2014-TPL] / SO 350(E) — [To BE Publsihed in the Gazette of INDIA Extraordinary, Part Ii,section 3, Sub-section (ii)] 4 February 2015
Notification No. 54/2026 [F. No. 370142/15/2026-TPL] / G.S.R. 240(E) — Ministry of Finance 31 March 2026
Notification No. 52/2026 [F.No. 370142/13/2026-TPL] / G.S.R. 233(E) — (Central Board of Direct Taxes) 30 March 2026

← Notification No. 60/2023 [F.No.300196/6/2020-ITA-I] / SO 3579(E) · Notification No. 56/2023 [F. No.164/1/2023-ITA-1] / SO 3440(E) →

What a notification is. A notification is made under a power the Act itself gives, and within that power it is law — unlike a circular, which only binds the department. Its reach is the reach of the enabling provision and no wider, and the date it carries decides from when it works.

Source: the Income Tax Department’s own published text — its page for this instrument.