TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Notifications
of of All Notifications
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New Rule 21AK Exempts Income from Non-Deliverable Forward Contracts for Non-Residents in Specific Offshore Banking Units.</h1> The Income-tax (33rd Amendment) Rules, 2021, issued by the Central Board of Direct Taxes, amend the Income-tax Rules, 1962. Effective from their publication date, these rules introduce Rule 21AK, which exempts income from non-deliverable forward contracts for non-residents under specific conditions. The contract must be with an offshore banking unit in an International Financial Services Centre holding a valid registration under the 2020 regulations, and not through a permanent establishment in India. The offshore banking unit must ensure compliance with these conditions. Definitions for 'permanent establishment,' 'non-deliverable forward contract,' and 'offshore banking unit' are provided.
TaxTMI 
TaxTMI 
