Govt. notifies investment in financial product by NR with 'IFSC capital market intermediary' for Sec. 10(4G) exemption

 

Govt. notifies investment in financial product by NR with 'IFSC capital market intermediary' for Sec. 10(4G) exemption

05 Jan 2024

Subject to specific requirements, income produced by a non-resident is excluded from its portfolio under Sec. 10(4G). The scope of this exemption has been expanded by FA 2023 to include any income a non-resident receives from the specified activity that the designated person performs. For this reason, the government has alerted the non-resident investor about their intention to invest in a financial product through a capital market intermediary, which is an IFSC unit.

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