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EXEMPTION FROM MINIMUM ALTERNATE TAX (MAT) TO ALL NON-RESIDENTS WHO PAY TAX ON PRESUMPTIVE BASIS TAX HOLIDAY TILL 2047 TO ANY FOREIGN COMPANY THAT PROVIDES CLOUD SERVICES TO CUSTOMERS GLOBALLY BY USING DATA CENTRE SERVICES FROM INDIA SAFE HARBOUR OF 15 PERCENT ON COST IN CASE THE COMPANY PROVIDING DATA CENTRE SERVICES FROM INDIA IS A RELATED ENTITY Recognising the need to enable critical infrastructure and boost investment in data centres,the Union Minister for Finance and Corporate Affairs,
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FAQ :
Foreign companies providing cloud services globally by using data centre services from India will receive a tax holiday until 2047.
A safe harbour of 15 percent on cost is proposed if the company providing data centre services from India is a related entity.
All non-residents who pay tax on a presumptive basis will be exempt from Minimum Alternate Tax (MAT).
Yes, non-residents providing capital goods, equipment, or tooling to toll manufacturers in a bonded zone will receive a 5-year exemption from income tax.
Non-resident experts will receive an exemption for their global (non-India sourced) income for a stay period of 5 years under notified schemes.
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