CBDT notifies TDS Exemption for IFSCs under Income Tax Act w.e.f. 1st April, 2024 [Read Notification]
The receipts exempted from TDS are Interest income on External Commercial Borrowings /Loans, Professional fees, Referral fee, Commission income on factoring and forfaiting service, Dividend income..etc
By Navasree A.M - On March 8, 2024 12:41 pm - 2 mins read
With an aim at fostering growth and investment in International Financial Services Centres ( IFSCs ), the Central Board of Direct Taxes ( CBDT ) has announced exemptions from Tax Deducted at Source ( TDS ) provisions under the Income-tax Act, 1961 with effect from 1st April 2024. Citing powers conferred by sub-section (1F) of…
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