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Tax incentives for International Financial Services centre Transfer of derivatives and certain securities by non-residents exempted from capital gains tax Non-corporate taxpayers operating in IFSC to be charged alternate minimum tax at concessional rate of 9% at par with minimum alternate tax applicable for Corporates

Delhi 

incentives for International Financial Services centre

Transfer of derivatives and certain securities by non-residents exempted from capital gains

Non-corporate taxpayers operating in IFSC to be charged alternate minimum at concessional rate of 9% at par with minimum alternate tax applicable for Corporates

In order to promote trade in stock exchanges located in International Financial Services Centre (IFSC), the Union Finance and Corporate Affairs Minister Shri Arun Jaitley proposed to provide two more concessions for IFSC. Presenting the General Budget 2018-19 in Parliament here today, Shri Jaitley proposed to exempt transfer of derivatives and certain securities by non-residents from capital gains tax. Further, the Finance Minister added that non-corporate taxpayers operating in IFSC shall be charged Alternate Minimum Tax (AMT) at concessional rate of 9% at par with Minimum Alternate Tax (MAT) applicable for corporates.

The Government had endeavoured to develop a world class international financial services centre in India. In recent years, various measures including tax incentives have been provided in order to fulfil this objective.

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First Published: Thu, February 01 2018. 00:20 IST