resident in India) [or is attributable to the investment division of offshore banking unit, as the case may be,] computed in the prescribed manner]. Explanation ... deliverable forward contracts [or offshore derivative instruments or over-the-counter derivatives,] entered into with an offshore banking unit of an International Financial Services Centre
specified as such under sub‑section (1) of section 21; (u) “Offshore Banking Unit” means a branch of a bank located in a Special Economic ... under this Act; (x) “Reserve Bank” means the Reserve Bank of India constituted under section 3 of the Reserve Bank of India
this section, no deduction of tax shall be made by the Offshore Banking unit from the interest paid- (a) on deposit made on or after ... resident in India. Explanation. - For the purposes of this sub-section "Offshore Banking Unit" shall have the same meaning as assigned to it in clause
section (1), where the specified fund is investment division of an offshore banking unit, the provisions of this section shall apply to the extent ... Gazette, specify in this behalf; [(aa) the expression "investment division of offshore banking unit" shall have the meaning assigned to it in clause
which an application may be made for setting up of an Offshore Banking Unit in a Special Economic Zone under sub‑section (1) of section
80LA. [ Deductions in respect of certain incomes of Offshore Banking Units and International Financial Services Centre. [Substituted by Act 28 of 2005 , Section ... being a scheduled bank, or, any bank incorporated by or under the laws of a country outside India; and having an Offshore Banking Unit
contained in subsection (1), in case of investment division of an offshore banking unit, the provisions of this section shall apply to the extent ... clause shall be inserted, namely:––– “(aa) the expression “investment division of offshore banking unit” shall have the meaning assigned to it in clause
India)", the words "or is attributable to the investment division of offshore banking unit, as the case may be," shall be inserted ... following clause shall be inserted, namely:- '(aa) "investment division of offshore.banking unit" means an investment division of a banking unit of a non-resident
Section 2 in The Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002
2. Definitions .-In these regulations, unless the context requires otherwise:-
(i) "Act" means ... Foreign Exchange Management Act, 1999 ( 42 of 1999 ); (ii) "Offshore Banking Unit" means a branch of a bank in India located in the Special Economic
Section 6 in The Foreign Exchange Management (Offshore Banking Unit) Regulations, 2002
6. An Offshore Banking Unit may undertake foreign exchange transactions with any authorised
