CBDT notifies conditions to claim exemption on transfer of non-deliverable forward contracts u/s 10(4E)

The Finance Act, 2021 has inserted a new clause (4E) under section 10 to exempt any income received by a non-resident due to the transfer of non-deliverable forward contracts entered into with an offshore banking unit of IFSC. The CBDT has notified Rule 21AK prescribing conditions to be fulfilled to claim an exemption under section 10(4E).The Finance Act, 2021 has inserted a new clause (4E) under section 10 to exempt any income received by a non-resident due to the transfer of non-deliverable forward contracts entered into with an offshore banking unit of IFSC. The CBDT has notified Rule 21AK prescribing conditions to be fulfilled to claim an exemption under section 10(4E).taxmann.com Latest Statutory HappeningsRead More

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