Service · GIFT City / IFSC NRI tax
Our CAs file your GIFT City / IFSC Indian tax
ITR-2, DTAA and repatriation — handled end-to-end.
Have a GIFT City IFSC foreign-currency deposit, an IFSC fund holding, or money to move abroad? We file your Indian return the right way — your IFSC FCY deposit interest reported as exempt (Section 10(15)(viii)), your other Indian income brought down to your treaty rate via Form 10F and your TRC, and your repatriation paperwork (15CA / 15CB) coordinated so the bank releases the funds cleanly. You stay abroad; an ICAI-registered CA does the filing.
ICAI-registered CAs · 31-country DTAA coverage · written quote before any work starts
What we handle
Your GIFT City / IFSC Indian filings, done for you.
GIFT City sits on Indian soil but is treated as offshore for tax and FEMA, which makes the filing easy to get subtly wrong. Here is what we take off your plate.
GIFT City IFSC FCY deposit income
Interest on foreign-currency deposits with an IFSC Banking Unit is exempt for non-residents (Section 10(15)(viii)). We report it correctly in your ITR-2 as exempt income so it is on record — banks still file interest statements against your PAN, and an unreported entry can trigger a mismatch notice.
IFSC fund and AIF distributions
Income from IFSC-based funds, AIFs, and other IFSCA-regulated vehicles flows to your return with the right head and the right schedule. Where a distribution carries Indian tax, we apply your treaty position so you are not over-taxed.
DTAA via Form 10F + TRC
Where any GIFT City / IFSC income remains taxable in India, we apply your country's treaty rate — Form 10F on the income-tax portal (replaced by Form 41 from FY 2026-27) plus your Tax Residency Certificate, with the correct treaty article cited.
ITR-2 with the full schedule set
Schedule EI (exempt income), Schedule FSI / TR where foreign income and treaty relief apply, and Schedule FA where your foreign assets cross the disclosure threshold. ICAI-registered CA, not a junior.
Repatriation 15CA / 15CB coordination
Moving GIFT City / IFSC or NRO funds abroad? We coordinate Form 15CA and the CA-certified Form 15CB your bank asks for, so the transfer clears without back-and-forth at the remittance desk.
Residential-status and RNOR check
The Section 10(15)(viii) exemption depends on you being a non-resident or RNOR (Section 6). We confirm your status for the year so the exemption is claimed correctly and the return holds up if questioned.
Want the background first? Read our full GIFT City IFSC FCY deposit guide — how the exemption works, IBU vs FCNR, and the FEMA framework.
Who this is for
Built for NRIs with money inside GIFT City.
NRIs with a GIFT City IFSC FCY fixed deposit
You opened an FCY FD with an IFSC Banking Unit (SBI, HDFC, ICICI, Kotak, Axis IBU and others) and want the interest reported the right way on your Indian return.
NRIs invested through IFSC funds or AIFs
You hold units in an IFSC-based fund or AIF and need the distributions, capital gains, and any TDS reconciled and filed correctly.
NRIs repatriating GIFT City / IFSC funds
You want to move proceeds abroad and need the 15CA / 15CB paperwork handled so the bank releases the funds cleanly.
Returning NRIs in the RNOR window
You are planning a return to India and want the exemption timed to your RNOR years (Section 6) before the income becomes taxable as a resident.
How it works
Four steps. You approve on WhatsApp.
No India trip, no portal logins on your side. You share the documents, we do the work, you approve the draft.
Share your documents
IBU / IFSC interest statement or fund statement, 26AS and AIS, passport and visa pages, and your TRC if you already have one. Free, no signup.
Free 15-minute CA scoping call
We confirm your residential status, tell you exactly what is exempt and what (if anything) is taxable, the realistic timeline, and a written quote. No commitment.
We draft the filing
ITR-2 with the correct schedules, Form 10F + TRC where any treaty claim applies, and Form 15CA / 15CB where you are repatriating. You review the draft.
You approve, we file and e-verify
You approve the draft on WhatsApp. We file with the income-tax department, e-verify, and hand you the acknowledgement. Any refund tracks to your NRO account.
What it costs: scoped case by case, quoted in writing first.
A GIFT City / IFSC filing varies a lot — a single exempt FCY deposit is simpler than a fund portfolio with a repatriation leg and a treaty claim. So we do not publish a flat number. After the free 15-minute call we send a written quote for your exact situation, and you decide before any work starts. No surprises, no NRI markup.
See how our transparent pricing worksWant a CA to file your GIFT City / IFSC return for you?
Free 15-minute scoping call. We confirm what is exempt, what is taxable, and quote in writing before you commit.
Senior CA who specialises in NRI tax · we deal with the tax officer, you don't
Statutory references (Section 10(15)(viii), Section 6, Form 10F / Form 41, Rule 37BB for 15CA / 15CB) are current as of the review date and follow the Income-tax Act 1961. Treaty positions and IFSCA / CBDT notifications can change — we confirm your position on the call.
Frequently asked questions
GIFT City / IFSC NRI tax — common questions
Is interest on a GIFT City IFSC FCY fixed deposit taxable in India?
No — for a non-resident or a person not ordinarily resident, interest on a foreign-currency deposit with an IFSC Banking Unit is exempt under Section 10(15)(viii) of the Income-tax Act, and no TDS is deducted. We still report it as exempt income in your ITR-2 so it is on record and does not look like an undisclosed entry against your PAN.
If the income is tax-free, why do I need to file anything?
Two reasons. First, the bank files an interest statement against your PAN, so an unreported figure can surface as a mismatch in your AIS and prompt a notice. Second, most NRIs with GIFT City / IFSC income also have other Indian income — NRO interest, rent, capital gains — that does need a return, and we file the whole picture in one ITR-2 rather than leaving gaps.
Where does DTAA and Form 10F come in if GIFT City interest is exempt?
The Section 10(15)(viii) exemption covers the IFSC FCY deposit interest itself. But other income that often sits alongside it — NRO interest, dividends, IFSC fund distributions — can be taxed in India and reduced to your country's treaty rate. That is where we file Form 10F (replaced by Form 41 from FY 2026-27) with your Tax Residency Certificate, citing the correct treaty article.
Can you handle repatriating my GIFT City / IFSC funds abroad?
Yes. We coordinate the Form 15CA declaration and the CA-certified Form 15CB your bank requires before releasing funds for an outbound transfer. We do this alongside the ITR so the tax position and the remittance paperwork line up and the bank clears the transfer without repeated queries.
Ready to have your GIFT City / IFSC return filed?
ICAI-registered CA files ITR-2 + DTAA + repatriation. Free 15-minute call, written quote first.
Senior CA who specialises in NRI tax · we deal with the tax officer, you don't