Long-term capital gains on specified unit transfers to Offshore Funds require withholding by any payer without a threshold exemption.

Long-term capital gains arising on transfer of units referred to in section 208 and payable to an Offshore Fund attract tax deduction at source at 12.5%. Any person responsible for making the payment must deduct tax. The recipient must be an Offshore Fund, and no monetary threshold applies before deduction is required. The framework is confined to long-term capital gains on the specified unit transfers.

---

---

---