CMAs now included in definition of Accountant for this Income Tax Certification: Know More:

The government has clarified the definition of 'accountant' for the purpose of Safe Harbour Rules concerning international transactions under Rules 87 to 93 of the Income Tax Act.

CMAs Get Entry into Safe Harbour Certification

Saloni Kumari

Feb 9, 2026

Last update on Feb 9, 2026

CMAs now included in definition of Accountant for this Income Tax Certification: Know More The government has clarified the definition of 'Accountant' for the purpose of Safe Harbour Rules concerning international transactions under Rules 87 to 93 of the Income Tax Act. As per the new definition of 'Accountant', mentioned under Section 515(3)(b) of the Income Tax Act, an individual will be eligible for the said profession if he/she is pursuing the profession of accountancy individually or working as a valuer, then he/she should have minimum professional experience of ten years, and his/her annual receipts should be more than Rs. 50 lakhs in the previous year from the exercise of the profession. If the professional is part of a firm or entity providing accountancy or valuation services, the entity’s annual receipts should be more than Rs. 3 crore in the preceding year. The definition has also been expanded to include professionals recognised for undertaking cost certification by the government of the country where the associated enterprise is registered or incorporated or in any of its agencies. However, they must fulfil some conditions. The two aforesaid eligibilities regarding experience and financial thresholds apply here too. Additionally, if they are members or partners of an accountancy or valuation entity, that entity or its affiliates should have operations in more than two countries. As emphasised by the Hon’ble Finance Minister in Budget 2026, this wider definition effectively allows Cost and Management Accountants (CMAs) to be included for Safe Harbour certification, provided they meet the prescribed conditions.

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Saloni Kumari

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Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].