https://www.taxtmi.com/acts?id=49206 The provision sets a special tax regime for an overseas financial organisation (Offshore Fund) that receives income from units purchased in foreign currency or long term capital gains on their transfer, applying specified fixed tax rates to those income categories. Deductions are disallowed if gross total income consists only of such income; where such income is part of broader income it is first excluded from gross total income and Chapter VIII deductions are then computed on the reduced gross total income. Key definitions and approval requirements for qualifying arrangements are provided. en-us Fri, 14 Feb 2025 17:42:47 +0530 Sat, 15 Feb 2025 10:27:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=49206 The provision sets a special tax regime for an overseas financial organisation (Offshore Fund) that receives income from units purchased in foreign currency or long term capital gains on their transfer, applying specified fixed tax rates to those income categories. Deductions are disallowed if gross total income consists only of such income; where such income is part of broader income it is first excluded from gross total income and Chapter VIII deductions are then computed on the reduced gross total income. Key definitions and approval requirements for qualifying arrangements are provided. Act-Rules Bills Fri, 14 Feb 2025 17:42:47 +0530 https://www.taxtmi.com/acts?id=49206