https://www.taxtmi.com/circulars?id=70402 Clarifications are issued on the safe harbour regime for a foreign company engaged in the sale of rough diamonds in Special Notified Zones. The circular states that only diamonds meeting every element of the definition of raw diamonds are covered, that sorted diamonds are excluded, and that a Kimberley Process Certificate alone is insufficient. It also clarifies the tax rate, denial of deductions, the application of DTAA credit, withholding tax, separate taxation of an Indian trader, invalidation for incorrect facts or concealment, and the position where no safe harbour option is exercised. en-us Tue, 12 May 2026 00:00:00 +0530 Tue, 07 Jul 2026 16:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=70402 Clarifications are issued on the safe harbour regime for a foreign company engaged in the sale of rough diamonds in Special Notified Zones. The circular states that only diamonds meeting every element of the definition of raw diamonds are covered, that sorted diamonds are excluded, and that a Kimberley Process Certificate alone is insufficient. It also clarifies the tax rate, denial of deductions, the application of DTAA credit, withholding tax, separate taxation of an Indian trader, invalidation for incorrect facts or concealment, and the position where no safe harbour option is exercised. Circulars Income Tax Tue, 12 May 2026 00:00:00 +0530 https://www.taxtmi.com/circulars?id=70402