Offshore Banking Unit definitions connect Special Economic Zones terminology with banking branch Units located in International Financial Services Centres. Offshore Banking Unit terminology is linked to definitions under the Special Economic Zones Act, 2005 and the Income-tax Rules, 1962. A Unit carries the ... Summary
Offshore Banking Unit definitions connect Special Economic Zones terminology with banking branch Units located in International Financial Services Centres.
Offshore Banking Unit terminology is linked to definitions under the Special Economic Zones Act, 2005 and the Income-tax Rules, 1962. A Unit carries the meaning assigned under the Special Economic Zones framework for specified income-tax purposes. For tax-deduction and tax-collection purposes, Offshore Banking Unit carries the corresponding Special Economic Zones meaning. Under the Income-tax Rules, it means a banking branch Unit located in an International Financial Services Centre.
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