https://www.taxtmi.com/manuals?id=2517 Deduction is available only for specified income of a scheduled bank, a foreign bank with an Offshore Banking Unit in a Special Economic Zone, or a Unit in an International Financial Services Centre, and not for general business income. Offshore Banking Units receive deduction for 20 consecutive tax years, while an IFSC Unit may choose any 20 consecutive years out of 25 years, subject to prescribed certification and permission requirements. The deduction is denied where a new unit is formed by splitting up, reconstruction, reorganisation, or transfer of an existing Indian business, and quarterly reporting applies for certain IFSC remittances. en-us Tue, 21 Mar 2023 16:34:00 +0530 Mon, 06 Jul 2026 14:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/manuals?id=2517 Deduction is available only for specified income of a scheduled bank, a foreign bank with an Offshore Banking Unit in a Special Economic Zone, or a Unit in an International Financial Services Centre, and not for general business income. Offshore Banking Units receive deduction for 20 consecutive tax years, while an IFSC Unit may choose any 20 consecutive years out of 25 years, subject to prescribed certification and permission requirements. The deduction is denied where a new unit is formed by splitting up, reconstruction, reorganisation, or transfer of an existing Indian business, and quarterly reporting applies for certain IFSC remittances. Manuals Income Tax Tue, 21 Mar 2023 16:34:00 +0530 https://www.taxtmi.com/manuals?id=2517