setting up international financial hubs within india one of pm modis pet projects got a strong boost from the finance minister through at least five major tax sops which will make it highly cost effective for institutions that set shop in such facilities the premier among those being gift city in gujarat chitra ramkrishna md ceo nse says the government has provided tailwinds to the ifc project in the gift city among the sops for international financial centres ifcs fm less than halved minimum alternate tax mat to 9 from 185 waived off security transaction tax stt commodity transaction tax ctt dividend distribution tax ddt and long term capital gain ltcg ajay pandey md group ceo gift city said that along with the recent announcement of itites policy and waiver of stamp duty on share broking transactions in this gujaratbased ifc the budget announcement relating to ifcs will further boost the development of indias first ifc