NotificationNo.80/2026 dated 10th July, 2026
❖ The Central Board of Direct Taxes (CBDT), vide Notification No. 80/2026/F. No. 275/19/2026-IT(B) dated 10th July, 2026, has notified the conditions under which tax shall not be deducted at source on specified payments made to Units located in an International Financial Services Centre (IFSC) claiming deduction under Section 147 of the Income-tax Act, 2025. The notification prescribes the eligible IFSC Units, the specified financial services covered, the conditions to be fulfilled by the payee and the payer, and introduces Form No. 1(N)for furnishing the statement-cum-declaration by the payee opting to claim deduction under Section 147. The notification shall be deemed to have come into force on1st April, 2026, and it has been certified that no person is adversely affected by giving retrospective effect to the notification.
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