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    Question

    Which tax exemptions are not proposed for IFSC-GIFT CITY

    in 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 Correct Answer Incorrect Answer
    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 Correct Answer Incorrect Answer
    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 Correct Answer Incorrect Answer
    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 Correct Answer Incorrect Answer
    E None of the Above Correct Answer Incorrect Answer

    Solution

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

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