Deduction in respect of certain incomes of Offshore Banking Unit and IFSC - Section 80LA

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..... Bank having an Offshore Banking Unit in a SEZ, ii. Unit of an International Financial Services Centre (IFSC). Offshore Banking Unit (OBU) means a branch of bank located in SEZ and which has obtained required permission under the Banking Regulation Act. B. Eligible Income: Any income: .....

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..... g with year when permission under SEBI Act/Banking Regulation Act. 50% of such income for the next 5 AY. Provided that for the assessment year commencing on or after the 1st day of April, 2023, the deduction under this clause shall be 100% of such income. [Proviso added by FA, 2023 ] Part B For unit of IFSC i. .....

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..... 37BB(7) of Income Tax Rules a quarterly statement, for each quarter of the financial year shall be furnished in respect of all remittances referred to in sub-rules (1), (2) and sub-rule (3) by, (i) the authorised dealer in Form No. 15CC ; (ii) a Unit of an International Financial Services Centre referred to in section 80LA(1A), responsible for paying to a non-resident, not being a .....

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