Part DCASafe Harbour Rules for income referred to in clause (i) of sub-section (1) of section 9 chargeable to tax under the head (From Rule 10TI to Rule 10TIC )
Finance companies in an international financial services centre must limit activities and pay non-resident debt interest in foreign currency. Finance companies located in an International Financial Services Centre and covered for section 94B must confine their activities to specified lending, ... Summary
Finance companies in an international financial services centre must limit activities and pay non-resident debt interest in foreign currency.
Finance companies located in an International Financial Services Centre and covered for section 94B must confine their activities to specified lending, receivables financing, or treasury functions. These include loans, guarantees, securitisation, financial leasing, factoring, forfaiting, hedging, cash management, structured credit, intra-group financing and similar treasury services. Interest paid by such a finance company on debt issued by a non-resident must be in foreign currency, and the defined meanings of Finance Company and International Financial Services Centre apply.
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