Income-tax Act, 2025

Chapter not to apply if the assessee so chooses - Section 218

Tax on business income of Offshore Banking Units or International Financial Services Centre unit.

218. Where the total income of an assessee includes income of the nature referred to in section 147(3), the aggregate of income-tax payable by the assessee shall be the aggregate of income-tax computed on the income specified in column B of the Table below at the rate specified in the corresponding entry in column C of the said Table:

TABLE

Sl. No.
Income
Rate of income-tax payable

A
B
C

1.
Income referred to in section 147(3)
15%

2.
Total income as reduced by income referred to in Sl. No. (1)
Rates in force.] .... To read the full section download the app from Google Play store