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of <h1>Income-tax Rules 2023 amend Safe Harbour Rules: Redefines intra-group loans, revises asset transfer clauses, updates interest benchmarks. Effective April 2024.</h1> The Income-tax (Twenty-Ninth Amendment) Rules, 2023, amends Rules 10TA and 10TD of the Safe Harbour Rules for International Transactions, effective April 1, 2024. Key changes include redefining 'intra-group loan' in Rule 10TA and revising clauses related to asset transfer losses and income. In Rule 10TD, adjustments are made to interest rate benchmarks for intra-group loans in foreign currencies, based on the credit rating of the associated enterprise and the loan amount. Reference rates for various currencies are specified, and guidelines for determining credit ratings are clarified. These amendments aim to refine the framework for international financial transactions.
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