Tax on non-resident investment income clarified: separate rates apply to investment income, long-term gains, and residual income. The substituted provision allocates a non-resident Indian's tax liability into three components when investment income (excluding specified assets) and long-term capital gains are included in total income: tax on the investment income component, tax on the long-term capital gains component, and the tax that would apply to the remaining total income after excluding those components; the aggregate of these three amounts constitutes the tax payable.
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Provisions expressly mentioned in the judgment/order text.
Tax on non-resident investment income clarified: separate rates apply to investment income, long-term gains, and residual income.
The substituted provision allocates a non-resident Indian's tax liability into three components when investment income (excluding specified assets) and long-term capital gains are included in total income: tax on the investment income component, tax on the long-term capital gains component, and the tax that would apply to the remaining total income after excluding those components; the aggregate of these three amounts constitutes the tax payable.
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