https://www.taxtmi.com/acts?id=40473 Section 10 is amended to add exemptions for transfers of offshore derivative instruments and over the counter derivatives and to extend aircraft lease royalty/interest exemption to ships with a definition of "ship"; a new clause exempts portfolio income managed by a portfolio manager in IFSC Offshore Banking Unit accounts that accrues outside India and is not deemed India sourced. Provisos restrict application of clauses on technical assistance remunerations for the assessment year beginning on or after 1 April 2023. Clause governing exempt funds/trusts substitutes supervisory authority with Principal Commissioner or Commissioner and prescribes corpus treatment, accumulation rules, filing, audit and violation consequences. en-us Tue, 01 Feb 2022 14:42:20 +0530 Fri, 04 Feb 2022 17:42:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=40473 Section 10 is amended to add exemptions for transfers of offshore derivative instruments and over the counter derivatives and to extend aircraft lease royalty/interest exemption to ships with a definition of "ship"; a new clause exempts portfolio income managed by a portfolio manager in IFSC Offshore Banking Unit accounts that accrues outside India and is not deemed India sourced. Provisos restrict application of clauses on technical assistance remunerations for the assessment year beginning on or after 1 April 2023. Clause governing exempt funds/trusts substitutes supervisory authority with Principal Commissioner or Commissioner and prescribes corpus treatment, accumulation rules, filing, audit and violation consequences. Act-Rules Bills Tue, 01 Feb 2022 14:42:20 +0530 https://www.taxtmi.com/acts?id=40473