The notification provide exemptions from Tax Deduction at Source (TDS) for specific payments made to units located in International Financial Services Centres (IFSCs). It provides that no tax deduction will be made on certain types of income received by IFSC units. The specific exempted payments include professional, consulting, and advisory fees for BATF Service Providers, Payments from Recognised Stock Exchanges and commission/incentives for Broker-Dealers, interest on lease and freight/hire charges for Finance Companies, etc. To avail this relaxation, the IFSC unit (payee) must submit a statement- cum-declaration in Form No. 1 to the payer, confirming their eligibility for Section 80LA deduction for ten consecutive assessment years.