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of <h1>Tax deduction scheme: 100% then 50% relief for banks/OBUs; IFSC units get 100% for ten of fifteen years</h1> Where a taxpayer is a scheduled bank, a foreign bank with an Offshore Banking Unit (OBU) in a Special Economic Zone, or a Unit of an International Financial Services Centre (IFSC), specified income from the OBU, specified banking business with an undertaking in a SEZ, approved IFSC business, or sale of a leased aircraft/ship (subject to conditions) is eligible for tax deduction: banks/OBUs get 100% deduction for five consecutive years then 50% for five years, while IFSC units may claim 100% for any ten consecutive years out of fifteen. Claims require an accountant's certificate and a copy of the relevant permission or registration. Definitions for SEZ, IFSC, scheduled bank and Unit apply.
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