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 instruments or over the-counter derivatives, or distribution of income on offshore derivative instruments entered into with an offshore banking unit of an International Financial Services Centre referred to in
Daily Limit Reached
You have reached your daily limit of 2 Free News
Subscribe to CCI PRO for unlimited access
Why Upgrade to CCI PRO?
- No Ads
- WhatsApp Community
- Daily E-Newsletter
- Unlimited News Access
- Profile Visitors
- Link Social Profiles
- Featured Job Posts
- Pro Badge
- Expert GST Guidance
- Unlimited Forum Replies
- Download Content in PDF
1 Year PLAN
1999
(Excl. of GST ₹359)
BEST VALUE
2 Years PLAN
3499
(Excl. of GST ₹629)
3 Months PLAN
999
(Excl. of GST ₹179)
View all CCI PRO benfits
Already a PRO member? Login here for an ad-free experience.
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).
CAclubindia
