Question

Which tax exemptions are not proposed for IFSC-GIFT CITY in the Budget 2022-23?

Q: Answer-Which tax exemptions are not proposed for IFSC-GIFT CITY in the Budget 2022-23?

All tax exemptions and benefits stated from A to D are proposed to be provided to IFSC Units as per the Budget 2022-23.

A To exempt income of a nonresident from the transfer of offshore derivative instruments or over the counter derivatives entered into with an OBU of an IFSC

B To exempt royalty/interest income of nonresident on account of lease of the ship (ship or ocean vessel or the engine of ship or ocean vessel or any part thereof) to an IFSC unit, subject to conditions

C To exempt income received by a nonresident from a portfolio of securities or financial products or funds, managed or administered by any portfolio manager on behalf of such nonresident, in an account maintained with an OBU in IFSC, to the extent thatRs.2000 crore over 5 years

D To extend the tax holiday for income arising from the transfer of a ship that is leased by a unit of IFSC, subject to conditions

E None of the Above

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Which tax exemptions are not proposed for IFSC-GIFT CITY in the Budget 2022-23?

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