Tax exemption for foreign government trainees: remuneration during authorized training in specified government linked Indian establishments is excluded from income. Section 10 is amended to: exempt remuneration of foreign State employees for training in India at government owned or government financed establishments, ... Summary
Tax exemption for foreign government trainees: remuneration during authorized training in specified government linked Indian establishments is excluded from income.
Section 10 is amended to: exempt remuneration of foreign State employees for training in India at government owned or government financed establishments, companies, subsidiaries, statutory corporations or societies; exempt, subject to Central Government approval and rate limits, interest on foreign currency borrowings by industrial undertakings under approved loan agreements, with "foreign currency" defined by the Foreign Exchange Regulation Act, 1973; and include allowances under the Members of Parliament (Additional Facilities) Rules, 1975 as non taxable.
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