Income-tax Act, 2025

INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS IN INTERNATIONAL FINANCIAL SERVICES CENTRE OR HAVING INCOME THEREFROM - Schedule VI

SCHEDULE VI

[See section 11]

INCOME NOT TO BE INCLUDED IN TOTAL INCOME OF CERTAIN ELIGIBLE PERSONS IN INTERNATIONAL FINANCIAL SERVICES CENTRE OR HAVING INCOME THEREFROM

In computing the total income of a tax year of any eligible person, as mentioned in column C of the Table below, the income mentioned in column B of the said Table and the income as mentioned in savings clause shall not be included, subject to the conditions mentioned in column D of the said Table, and the expressions used in columns B to D of the said Table, shall have the meanings respectively assigned to them in the Notes below the said Table.

TABLE

Sl. No.
Income not to be included in total income
Eligible persons
Conditions

A
B
C
D

1.
Any income accrued or arisen to, or received, as a result of transfer of capital asset referred to in section 70(1)(r) where such transfer takes place on a recognised stock exchange located in any International Financial Services Centre.
Any specified fund.
(a) Consideration is paid or payable in convertible foreign exchange;

(b) Income shall not be included in the total income to the extent such income is attributable to--

(i)

units held by non-resident (not being the permanent establishment of a non-resident in India); or

(ii)

the investment division of offshore banking unit; and

(c) The income exempt shall be computed in such manner as may be prescribed.

2.
Any income accrued or arisen to, or received, as a result of transfer of securities (other than shares in a company resident in India).
Any specified fund.
As specified in clauses (b) and (c) of column D against Sl. No. 1.

3.
Any income from securities issued by a non-resident where such securities are not issued by a permanent establishment of a non- resident in India.
Any specified fund.
(a) Such income otherwise do .... To read the full section download the app from Google Play store