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| * IFSCA is headquartered in Gandhinagar. Its current chairman is Injeti Srinivas.<ref>{{Cite web |first=IFSCA |title=ifsca.gov.in |url=https://ifsca.gov.in/Pages/Contents/AboutIFSCA}}</ref> | | * IFSCA is headquartered in Gandhinagar. Its current chairman is Injeti Srinivas.<ref>{{Cite web |first=IFSCA |title=ifsca.gov.in |url=https://ifsca.gov.in/Pages/Contents/AboutIFSCA}}</ref> |
| == Tax benefits == | | == Tax benefits == |
| === Fiscal Benefits to IFSC units: ===
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| '''''1. Income Tax Benefits'''''
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| '''''Units in IFSC:'''''
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| ** 100% tax exemption for 10 years out of 15 years
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| ** IFSC Unit has the flexibility to select any 10 years out of 15 years block
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| ** MAT / AMT @ 9% of book profits applies to Company / others setup as a unit in IFSC – MAT not applicable to companies in IFSC opting for new tax regime
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| ** Dividend paid to shareholders of company in IFSC: From 01 April 2020, dividend income distributed by Company in IFSC to be taxed in the hands of the shareholder.
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| '''''Investors:'''''
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| ** Interest income paid to non-residents on: (i) Money lent to IFSC units not taxable. (ii) Long Term Bonds and Rupee Denominated Bonds listed on IFSC exchanges taxable at a lower rate of 4%
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| ** Transfer of specified securities* listed on IFSC exchanges by a non-resident not treated as transfer – Gains accruing thereon not chargeable to tax in India
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| **
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| '''''2. Goods and Services Tax (GST) Benefits'''''
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| '''''Units in IFSC:'''''
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| ** No GST on services: (i) received by unit in IFSC. (ii) provided to IFSC / SEZ units, Offshore clients.
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| ** GST applicable on services provided to Domestic Tariff Area
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| '''''Investors:'''''
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| ** No GST on transactions carried out in IFSC exchanges
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| '''''3. Other Taxes and Duties'''''
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| '''''Units in IFSC:'''''
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| ** State Subsidies – Lease rental, PF contribution, electricity charges.
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| '''''Investors:'''''
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| ** Exemption from Security Transaction Tax (STT), Commodity Transaction Tax (CTT), stamp duty in respect of transactions carries out on IFSC exchanges.
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| === Operational Benefits: === | | === Operational Benefits: === |
| ''''' 1. Exemption from currency control regulations to IFSC Units:''''' | | ''''' 1. Exemption from currency control regulations to IFSC Units:''''' |