- The companies located in international financial services centre shall not be liable to dividend distribution tax.
- Minimum Alternate Tax shall be charged at the rate of nine per cent from units located in international financial services centre.
- The transaction in foreign currency of sale of equity share or units of equity oriented funds or units of a business trust taking place on a recognised stock exchange established in international financial services centre shall not be liable to securities transaction tax.
- It is also proposed that the gains arising from transfer of such long term capital asset shall be exempt from tax.
- The transaction in foreign currency of sale of commodity derivatives taking place on a recognised association established in international financial services centre shall not be liable to commodity transaction tax.
Karthik & Sunil 