TaxTMI 
TaxTMI 
Conditions for the purpose of clause (4E) of section 10
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....erivatives; or (b) distribution of income on offshore derivative instruments 7[or over-the-counter derivatives], under clause (4E) of section 10 of the Act, shall be exempted subject to fulfilment of the following conditions, namely:- (i) the non-deliverable forward contract or offshore derivative instrument or over-the-counter derivative is entered into by the non-resident with an offshore b....
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....use (ac) of section 2 of the Securities Contracts (Regulation) Act, 1956(42 of 1956); (ii) "a non-deliverable forward contract" shall mean a contract for the difference between an exchange rate agreed before and the actual spot rate at maturity, with the spot rate being taken as the domestic rate or a market determined rate and such contract being settled with a single payment in a foreign curre....
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....f India (Foreign Portfolio Investors) Regulations, 2019 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992).] ************** NOTES:- 1. Inserted vide Notification No. 136/2021 dated 10-12-2021 2. Inserted vide Notification No. 87/2022 dated 01-08-2022 3. Inserted vide Notification No. 87/2022 dated 01-08-2....
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....o in sub-section (1A) of section 80LA of the Act." 6. Substituted vide Notification No. 50/2023 dated 17-07-2023 before it was read as, "(1) The income accrued or arisen to, or received by, a non-resident as a result of transfer of non-deliverable forward contracts 2[or offshore derivative instruments or over-the-counter derivatives,] under clause (4E) of section 10 of the Act, sha....