Question
What amendment has the Finance Ministry made to Income
Tax Rules regarding non-residents and foreign companies opening bank accounts in IFSC Gift City?Solution
The Finance Ministry has amended Income Tax Rules and so now the non-residents and foreign companies opening bank accounts in IFSC Gift City will not have to furnish PAN and instead file a declaration The non-resident or the foreign company opening a bank account at the International Financial Services Centres (IFSC) will have to file a declaration in Form 60 and should not have any tax liabilities in India. Ministry of Finance                   Union Minister: Nirmala Sitharaman Gujarat International Finance Tech-City (GIFT City) is a business district currently being constructed in the state of Gujarat. GIFT City is India’s first operational smart city with the development of world-class infrastructure and sustainable master planning, which will make GIFT at par or above par with renowned International centres
What is the significance of UPI's launch in France?
- What is the RBI’s stance on minors operating bank accounts as per the new circular?
Which of the following techniques is used in virtual memory management to avoid thrashing?
What was Vincent Keymer’s final score at the Quantbox Chennai Grand Masters 2025?
What is the primary purpose of the C-295MW transport aircraft received by the Indian Air Force from Airbus?
’A’ App has been developed to democratize information on citizen services & provide citizen-centric services in India.It has been launched by th...
Which country is home to the Ibu Volcano, which made headlines in recent news?
Dr Chennaveera Kanavi passed away. Who was he?
_______ bank has been conferred with DX 2021 award by Confederation of Indian Industry (CII)?
What is the key purpose of the Shri Krishna Gaman Path announced by the Rajasthan CM?