https://www.taxtmi.com/acts?id=39561 Amendments to section 10 expand exempt income categories by including investment divisions of offshore banking units in IFSCs and redefining "specified fund" to cover Category III AIFs and certain offshore banking investment divisions registered as Category I FPIs, subject to prescribed conditions and separate accounts. New exempt items include non-resident income from non-deliverable forwards with IFSC offshore banking units, royalty or interest on aircraft leases paid by qualifying IFSC units, capital gains on share transfers in fund relocation transactions attributable to non-resident unit-holders, and time-limited exemptions for specified infrastructure financing institutions; qualification routinely depends on prescribed conditions, commencement timelines and proportionate calculation rules. en-us Tue, 30 Mar 2021 14:57:17 +0530 Tue, 30 Mar 2021 14:57:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=39561 Amendments to section 10 expand exempt income categories by including investment divisions of offshore banking units in IFSCs and redefining "specified fund" to cover Category III AIFs and certain offshore banking investment divisions registered as Category I FPIs, subject to prescribed conditions and separate accounts. New exempt items include non-resident income from non-deliverable forwards with IFSC offshore banking units, royalty or interest on aircraft leases paid by qualifying IFSC units, capital gains on share transfers in fund relocation transactions attributable to non-resident unit-holders, and time-limited exemptions for specified infrastructure financing institutions; qualification routinely depends on prescribed conditions, commencement timelines and proportionate calculation rules. Act-Rules F. Acts / Amendment Acts Tue, 30 Mar 2021 14:57:17 +0530 https://www.taxtmi.com/acts?id=39561