Non-residents to get full income tax exemption on profits from OTC derivative contracts traded in IFSC due to this rule change
No income tax: Incomes arising out of non-resident’s income on Over-the-Counter (OTC) derivatives will be fully exempt from Income Tax under Section 10 (4E) provided they are routed through overseas banking units or FPIs. Yeeshu Sehgal says: “It means Non-re…