Investment in financial products by non-residents: notified activity when routed through IFSC Unit and Offshore Banking Unit. Notification classifies investment in a financial product by a non-resident, made pursuant to a contract entered into by a capital market intermediary that is a Unit of an International Financial Services Centre, as a notified activity where the income from the investment is received in the non-resident's account maintained with the Offshore Banking Unit of that IFSC, and defines the key terms by reference to the IFSC Authority regulations and the Special Economic Zones Act.
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.
Investment in financial products by non-residents: notified activity when routed through IFSC Unit and Offshore Banking Unit.
Notification classifies investment in a financial product by a non-resident, made pursuant to a contract entered into by a capital market intermediary that is a Unit of an International Financial Services Centre, as a notified activity where the income from the investment is received in the non-resident's account maintained with the Offshore Banking Unit of that IFSC, and defines the key terms by reference to the IFSC Authority regulations and the Special Economic Zones Act.
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