Tax exemption for ODI distributions prevents double taxation, easing IFSC banking unit pass-through of taxed income. Amendments extend the transfer period for original funds to resultant funds on relocation, exempt income distributed to non-resident holders of Offshore ... Summary
Tax exemption for ODI distributions prevents double taxation, easing IFSC banking unit pass-through of taxed income.
Amendments extend the transfer period for original funds to resultant funds on relocation, exempt income distributed to non-resident holders of Offshore Derivative Instruments provided the income was charged to tax in the IFSC banking unit and will incorporate IFSCA (Fund Management) Regulations, 2022 into the definitions of specified, resultant and investment funds to align statutory definitions with the regulatory regime.
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