Tax Collection at Source exemption for IFSC Units requires a verified Form 1A declaration and seller reporting obligations. A Unit of an International Financial Services Centre shall not be treated as a buyer for Tax Collection at Source purposes provided the Unit furnishes a verified statement cum declaration in Form No. 1A declaring the ten consecutive previous years for which it opts for the IFSC deduction; the seller must stop collecting tax after receiving the Form and must report payments on which tax was not collected in the statutory collection statement. The exemption applies only for the declared consecutive years; definitions and data security and transmission procedures are to be prescribed by the Income tax (Systems) authorities.