Rule 141 - Computation of exempt income of specified fund, attributable to investment division of an offshore banking unit under Schedule VI [Table: Sl. Nos. 1 to 4] to Act
Income-Tax Rules, 2026
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Exempt income computation for specified funds covers eligible transfers, securities income, securitisation trust income, and related compliance reporting. Exempt income of a specified fund attributable to the investment division of an offshore banking unit is computed under a formula covering income from ... Summary
Exempt income computation for specified funds covers eligible transfers, securities income, securitisation trust income, and related compliance reporting.
Exempt income of a specified fund attributable to the investment division of an offshore banking unit is computed under a formula covering income from specified capital asset transfers, eligible securities, non-resident securities, and securitisation trust income. Expenditure related to those income items is not deductible against any other income under the Act. The eligible investment division must also furnish an annual statement of exempt income electronically in the prescribed form and within the prescribed time, and the rule defines key expressions by reference to the Act and related rules.
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