Tax rate increase for foreign institutional investor long term capital gains alters tax computation from the next assessment year onward. Amendment increases the tax rate applicable to long term capital gains on transfer of securities earned by specified funds and Foreign Institutional Investors that are not covered by the capital gains exclusion provision, replacing the former rate in sub section (1), clause (iii) and applying from the start of the fiscal year to the relevant assessment year and subsequent assessment years.
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Tax rate increase for foreign institutional investor long term capital gains alters tax computation from the next assessment year onward.
Amendment increases the tax rate applicable to long term capital gains on transfer of securities earned by specified funds and Foreign Institutional Investors that are not covered by the capital gains exclusion provision, replacing the former rate in sub section (1), clause (iii) and applying from the start of the fiscal year to the relevant assessment year and subsequent assessment years.
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