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of <h1>Amendment to Section 10 of Income-tax Act: New exemptions for non-residents' interest income and capital asset transfers.</h1> Section 10 of the Income-tax Act is amended to include new clauses. Clause (4C) exempts interest income payable to non-residents or foreign companies by Indian entities from rupee-denominated bonds issued between September 17, 2018, and March 31, 2019. Clause (4D) exempts income from capital asset transfers on recognized stock exchanges in International Financial Services Centres, paid in convertible foreign exchange, effective April 1, 2020. Clause (12A) changes the exemption rate from 40% to 60%. Clause (15) adds a sub-clause exempting interest income for non-residents from September 1, 2019. Other clauses address compliance and remove restrictions on stock exchange listings.
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