Capital gains on specified unit income are exempt from withholding, while non-capital income remains subject to tax deduction. Income in respect of units covered by Section 393(1), Table, Sl. No. 4(i), is excluded from tax deduction at source where the payment is in the nature of ... Summary
Capital gains on specified unit income are exempt from withholding, while non-capital income remains subject to tax deduction.
Income in respect of units covered by Section 393(1), Table, Sl. No. 4(i), is excluded from tax deduction at source where the payment is in the nature of capital gains. The non-deduction condition requires both that the payment constitute income in respect of the specified units and that such income be capital gains. Income from those units that is not capital gains remains subject to the applicable withholding requirement.
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