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of <h1>Union Budget 2024-25: Tax Incentives for IFSC Units Expanded to Boost Investment and Employment, Effective April 2025.</h1> The Union Budget 2024-25 proposes amendments to enhance tax incentives for units in the International Financial Services Centre (IFSC) to boost investment and employment. Key changes include expanding tax exemptions for specified funds to include retail and Exchange Traded Funds, exempting certain income of Core Settlement Guarantee Funds, and extending relaxed proof requirements for Venture Capital Funds regulated by IFSCA. Additionally, the restriction on interest deduction under Section 94B will not apply to finance companies in IFSC. These amendments will take effect from April 1, 2025, applicable to the assessment year 2025-26 onwards.
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