Long-term capital gains tax rate change affects non-resident Indian transfers depending on transfer timing and tax computation. The amendment substitutes the clause prescribing the tax on long-term capital gains included in the total income of a non-resident Indian, directing different tax rates for transfers occurring before the notified effective date and for transfers on or after that date, and makes this substitution retrospective to that effective date, thereby altering the rate component of the statutory aggregate tax computation for such assessees.
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Long-term capital gains tax rate change affects non-resident Indian transfers depending on transfer timing and tax computation.
The amendment substitutes the clause prescribing the tax on long-term capital gains included in the total income of a non-resident Indian, directing different tax rates for transfers occurring before the notified effective date and for transfers on or after that date, and makes this substitution retrospective to that effective date, thereby altering the rate component of the statutory aggregate tax computation for such assessees.
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