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of <h1>Clause 208: New Tax Rates for Non-Resident Offshore Funds and Investment Conditions by SEBI</h1> Clause 208 of the Income Tax Bill, 2025, outlines tax provisions for non-resident offshore funds. It specifies a 10% tax on income from units purchased in foreign currency and a 12.5% tax on long-term capital gains from their transfer. If the offshore fund's income solely comprises these categories, no deductions are allowed under specified sections. The clause defines an 'overseas financial organisation' and details conditions for investment arrangements approved by the Securities and Exchange Board of India. It also clarifies the meaning of 'unit' in the context of mutual funds and the Unit Trust of India.
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