<h1>New Tax Incentives for IFSC: Capital Gains Exemption and Reduced Alternate Minimum Tax Rate for Non-Corporates Announced.</h1> The Union Finance and Corporate Affairs Minister announced tax incentives for the International Financial Services Centre (IFSC) in the 2018-19 budget. These include exemptions from capital gains tax on the transfer of derivatives and certain securities by non-residents. Additionally, non-corporate taxpayers in the IFSC will be subject to an Alternate Minimum Tax at a reduced rate of 9%, aligning it with the Minimum Alternate Tax for corporates. These measures aim to enhance trade in stock exchanges within the IFSC and support the development of a world-class financial services hub in India.