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of <h1>Non-Resident Income from Offshore Derivatives Exempt under Section 10(4E) If Entered with Registered IFSC Units</h1> Income earned by a non-resident from transferring non-deliverable forward contracts, offshore derivative instruments, or over-the-counter derivatives, or from income distribution on such instruments, is exempt from tax under clause (4E) of section 10, provided the contracts are entered into with an offshore banking unit of an International Financial Services Centre holding a valid registration certificate, or with a Foreign Portfolio Investor registered under relevant regulations. The contracts must not be entered into through or on behalf of the non-resident's permanent establishment in India. The offshore banking unit or Foreign Portfolio Investor must ensure compliance with these conditions. Definitions for terms such as derivative, non-deliverable forward contract, offshore banking unit, offshore derivative instrument, over-the-counter derivatives, permanent establishment, and Foreign Portfolio Investor are provided as per applicable securities and income tax laws.
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