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of <h1>India Exempts Tax on Display of Uncut Diamonds in Special Notified Zone, Effective from April 2015, Finance Bill 2016.</h1> The Government of India has announced that income from the mere display of uncut diamonds in the Special Notified Zone at the Bharat Diamond Bourse will not be subject to taxation under the Income-tax Act, 1961. This decision applies to activities conducted on or after April 1, 2015, and aims to encourage participation from leading global diamond mining companies. A legislative amendment to formalize this tax exemption will be included in the Finance Bill 2016.
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