Ifsc Exchanges

Stricter F&O trading rules: NSE's loss likely to be GIFT City's gain

Stricter F&O rules could lead a shift in volumes, says NSE CEO

Govt exempts certain payments to units in IFSC from TDS starting April 1

The government has exempted certain payments made to units of 14 services sectors in IFSC from TDS provisions effective April 1, a move which will reduce tax compliance burden. The Central Board of Direct Taxes (CBDT) in a notification said that no TDS will have to be deducted for payments to units in sectors like FinTech, banking, fund management entity, finance company, credit rating agency, insurance intermediary and investment banking. The TDS exemption will now be applicable on payments like professional/referral fee, brokerage income, interest on External Commercial Borrowings /Loans, insurance commission, dividend and credit rating fee. International Financial Services Centre (IFSC) in Gujarat is being developed as a tax-neutral enclave for the financial sector. Nangia & Co LLP Partner Amit Agarwal said the notification by the CBDT offers a significant relief by exempting specified payments made to the units in IFSC from TDS. Previously, exemptions from withholding tax were

Govt allows direct listing at IFSC to enable local cos raise global capital

The move will enable startups and other domestic companies to access the global market and raise capital in foreign currency through GIFT IFSC

IFSC needs to ready platform where green credits can be traded: Sitharaman

Finance Minister Nirmala Sitharaman on Thursday said India has a USD 10.1 trillion funding gap to meet its net zero commitment and asked IFSC to set up a platform where green credits can be traded. Speaking at a session 'An aspiration of modern India' at the GIFT City, the minister said companies in India will be able to access global funds soon with direct listing on IFSC exchanges. "The much awaited direct listing of stock in Gift IFSC was announced earlier. We are going through the process in a systematic manner and I'm confident that it will happen at the earliest. With that Indian companies should be able to access global funds easily being listed in India," she said. Last year the government had decided to allow listed and unlisted companies to directly list themselves on the IFSC (International Financial Services Centre) exchanges at GIFT City. Currently, Indian companies can access foreign equity markets only through issuing depository receipts or by listing their debt ...

Total assets of IFSC banking units surge over 30% to $38.28 billion

In its annual report for 2022-23, IFSCA says volumes of business in IBUs has doubled to $258.59 billion

Indian companies to soon directly list on IFSC bourses: FM Sitharaman

Sitharaman urges financial regulators to maintain a balance between light-touch regulation and full-fledged supervision

FM for cutting withholding tax to boost listing of bonds at IFSC exchange

The move will attract more international investors at IFSC exchange

Govt to set up unified regulator for IFSC, introduce Bill in Lok Sabha

The decision was taken at a meeting of the Union Cabinet on Wednesday

Sebi allows multilateral entities to issue securities in IFSC

IFSC is aimed at providing facilities and regulations comparable to other international financial centers in the world

Bonds issued outside can get listed on IFSC exchanges: Sebi

This is in addition to the mandatory listing of debt securities that are issued in IFSC