Tax incentives for IFSC expanded: wider fund exemptions, clearing house income relief, VC relief, and interest limit carve outs. Proposed amendments broaden IFSC tax concessions: include retail schemes and Exchange Traded Funds as specified funds under section 10(4D); exempt ... Summary
Tax incentives for IFSC expanded: wider fund exemptions, clearing house income relief, VC relief, and interest limit carve outs.
Proposed amendments broaden IFSC tax concessions: include retail schemes and Exchange Traded Funds as specified funds under section 10(4D); exempt specified income of Core Settlement Guarantee Funds by recognising IFSCA market infrastructure regulations; extend section 68 relief to Venture Capital Funds regulated by IFSCA; and exclude IFSC finance companies from the section 94B interest deduction limitation, subject to prescribed conditions. Amendments take effect from 1 April 2025 and apply to the subsequent assessment year.
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