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of <h1>Government exempts IFSC units from tax deduction at source on specified payments under sections 194A, 194C, 194H, 194I, 194J</h1> The Central Government issued a notification exempting International Financial Services Centre (IFSC) units from tax deduction at source on specified payments. The exemption covers seven categories of IFSC entities including service providers, broker-dealers, finance companies, fund management entities, clearing corporations, depositories, and stock exchanges. Various payment types are exempted from TDS provisions under sections 194A, 194C, 194H, 194I, and 194J of the Income Tax Act 1961. The exemption requires payees to furnish Form No. 1 declarations to payers and applies only during the ten consecutive assessment years for which section 80LA deductions are claimed. The notification becomes effective from July 1, 2025.
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