The decision to extend tax benefits by a year provides clarity and certainty for global investors and eligible companies to enhance investment and operational planning. The extension of tax benefits till March 31, 2025, benefits eligible startups, sovereign wealth funds, pension funds, and units in the International Financial Services Centre (IFSC) GIFT City.
On 1 February 2024, Finance Minister Nirmala Sitharaman will present her interim budget in India s election year. The focus is on making India an attractive destination for foreign investments while maintaining fiscal discipline. Key budget expectations in the Financial Services space include addressing tax implications for Alternate Investment Funds (AIFs) and achieving tax parity among different categories of AIFs.
The new framework allows unlisted and listed public companies to list their shares on the two bourses operating in GIFT City – India International Exchange and NSE International Exchange.