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→Tax benefits
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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 == | ||
=== Tax Incentives for IFSC Unit === | |||
{| class=wikitable | |||
|+ Fiscal incentives | |||
! Particulars | |||
! Units in IFSC | |||
! Investors | |||
|- | |||
! Income-tax | |||
| | |||
* 100% tax exemption for 10 consecutive years out of 15 years | |||
* IFSC Unit has the flexibility to select any 10 years out of 15 years block | |||
* 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 | |||
* 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. | |||
| | |||
* Interest income paid to non-residents on:- | |||
** Monies lent to IFSC units not taxable | |||
** Long Term Bonds and Rupee Denominated Bonds listed on IFSC exchanges taxable at lower rate of 4% | |||
* 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 | |||
<nowiki>*</nowiki>Specified securities include Bond, GDR, Foreign currency denominated bond, Rupee-denominated bond of an Indian company, Derivatives, Unit of a Mutual Fund, Unit of a business trust, Unit of Alternative Investment Fund and Foreign currency denominated equity share of a company | |||
|- | |||
! Goods and Services Tax (GST) | |||
| | |||
* No GST on services – | |||
** received by unit in IFSC | |||
** provided to IFSC / SEZ units, Offshore clients | |||
* GST applicable on services provided to Domestic Tariff Area | |||
| No GST on transactions carried out in IFSC exchanges | |||
|- | |||
! Other taxes duties | |||
|State Subsidies – Lease rental, PF contribution, electricity charges | |||
|Exemption from STT, CTT, stamp duty in respect of transactions carried out on IFSC exchanges | |||
|} | |||
=== Operational Benefits: === | === Operational Benefits: === | ||
''''' 1. Exemption from currency control regulations to IFSC Units:''''' | ''''' 1. Exemption from currency control regulations to IFSC Units:''''' | ||