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Certain payments to units in IFSC exempted from TDS

By Economic Times - 9 months ago
The Indian government has exempted specific payments made to units of 14 service sectors in the International Financial Services Centre (IFSC) from TDS (Tax Deducted at Source) provisions, effective April 1. This move aims to reduce the tax compliance burden and is applicable to sectors like FinTech, banking, fund management, insurance intermediary, and investment banking.

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