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          Income Tax

          Offshore Banking Unit

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          Offshore banking unit status clarifies tax-rule eligibility for banking branch units located in international financial services centres. An Offshore Banking Unit for rule 21AK(1) of the Income-tax Rules is a banking branch unit located within an International Financial Services Centre, making the unit's establishment inside an IFSC the operative criterion for classification under that tax rule.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Offshore banking unit status clarifies tax-rule eligibility for banking branch units located in international financial services centres.

                                An Offshore Banking Unit for rule 21AK(1) of the Income-tax Rules is a banking branch unit located within an International Financial Services Centre, making the unit's establishment inside an IFSC the operative criterion for classification under that tax rule.


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