Quick Summary
Amendment of Section 10 related to Exempt income of Non-Residents The existing provisions of clause (4E) of section 10 of the Act provide that any income accrued or arisen to, or received by a non-resident on account of transfer of non-deliverable forward contracts or offshore derivative instrument
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FAQ :
The amendment extends tax exemption to non-residents on income from certain offshore derivative instruments and contracts when they are entered into with Foreign Portfolio Investors that are IFSC units.
Non-residents who engage in transactions involving non-deliverable forward contracts, offshore derivative instruments, or over-the-counter derivatives with IFSC units.
The amendment will take effect from 1st April 2026, applying to the assessment year 2026-27 and subsequent years.
The relief covers non-deliverable forward contracts, offshore derivative instruments, and over-the-counter derivatives.
The amendment aims to further incentivise operations and investment within International Financial Services Centres (IFSCs).
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