International Finance Service Centre (IFSC) at Gujarat International Finance Tec (Gift) City, a Special Economic Zone (SEZ), was conceptualised to create an offshore jurisdiction in India. The plan was to capture some of the business that was being carried out in Singapore, Mauritius, Dubai, Hongkong, London and similar centres of global finance.
A host of incentives have been provided in the last five years; waiver of security and commodity transaction tax, regulatory and tax benefits to alternative investment funds, tax neutral relocation of funds, exemption on long term capital gains, tax holiday for aircraft leasing, tax exemption for aircraft operators, relaxation in Companies Act norms for foreign companies etc.
In addition, announce…
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