Capital gains on specified securities payable to foreign institutional investors qualify for no tax deduction at source. No deduction of tax at source applies to capital gains arising from transfer of securities referred to in Section 210 where the income is payable to a ... Summary
Capital gains on specified securities payable to foreign institutional investors qualify for no tax deduction at source.
No deduction of tax at source applies to capital gains arising from transfer of securities referred to in Section 210 where the income is payable to a Foreign Institutional Investor. Income from such securities is otherwise subject to withholding under Section 393(2). The non-deduction treatment requires that the income constitute capital gains, arise from transfer of the specified securities, and be payable to a Foreign Institutional Investor.
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