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of <h1>Resident employees taxed on GDR dividends and long-term capital gains with 10%/12.5% rates and special aggregation rules</h1> A resident individual employed by an Indian company (or its subsidiary) in specified knowledge-based industries who receives dividends on Global Depository Receipts (GDRs) purchased in foreign currency or long-term capital gains from their transfer is taxed by aggregating: a 10% tax on such dividends, a 10% tax on long-term capital gains for transfers before 23-07-2024 (12.5% for transfers on/after that date), and tax on the remaining income computed after excluding the GDR income. Where gross income consists only of such GDR dividends no other deductions are allowed; otherwise gross total income is reduced by the GDR income for deduction purposes. GDRs and covered industries are defined in the section.
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