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of <h1>Aggregate tax rules for specified funds and FIIs: securities income, STCG, LTCG, interest; see sections 194LD, 111A, 112A</h1> Where a specified fund or foreign institutional investor derives income from securities or short-/long-term capital gains on their transfer, tax is computed as the aggregate of: tax on securities income (20% for foreign institutional investors; 10% for specified funds; interest under section 194LD at 5%); tax on short-term capital gains (general rate 30%, section 111A at 15% for transfers before 23-Jul-2024 and 20% on/after that date); tax on long-term capital gains (generally 12.5%, with section 112A special rates and threshold provisions); plus tax on remaining income. Deductions are restricted when gross income consists only of securities income; specified fund rules limit application to income attributable to non-resident unit holders and certain offshore banking unit investment divisions.
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