Taxation of Global Depository Receipt income imposes special flat rates for resident employees of specified knowledge based industries. Imposes a special tax regime for resident employees of companies in a specified knowledge based industry or service on income from Global Depository Receipts purchased in foreign currency and on long term capital gains from their transfer; prescribes separate tax treatment for GDR dividends and GDR long term capital gains, requires exclusion of those amounts from gross total income for deduction computation where both arise, disallows other deductions if income consists only of specified GDR dividends, and provides definitions and an exception to the listed provision for computing long term capital gains.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Taxation of Global Depository Receipt income imposes special flat rates for resident employees of specified knowledge based industries.
Imposes a special tax regime for resident employees of companies in a specified knowledge based industry or service on income from Global Depository Receipts purchased in foreign currency and on long term capital gains from their transfer; prescribes separate tax treatment for GDR dividends and GDR long term capital gains, requires exclusion of those amounts from gross total income for deduction computation where both arise, disallows other deductions if income consists only of specified GDR dividends, and provides definitions and an exception to the listed provision for computing long term capital gains.
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