Form No. 10-IL is a verification certificate issued by a Chartered Accountant under Rule 21AJA of the Income-tax Rules, 1962. It confirms that the eligible investment division of an offshore banking unit has complied with documentation, audit, and reporting requirements to qualify for tax exemptions or concessional tax rates under Sections 10(4D) and 115AD of the Income-tax Act, 1961. Filing Form 10-IL ensures regulatory compliance and supports tax benefits for offshore investment operations.
Source: https://incometaxindia.gov.in
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