Long-term capital gains withholding requires any payer to deduct tax on qualifying unit transfers payable to Offshore Funds. Tax deduction at source applies to long-term capital gains from transfer of units referred to in section 208 when payable to an Offshore Fund. Any person ... Summary
Long-term capital gains withholding requires any payer to deduct tax on qualifying unit transfers payable to Offshore Funds.
Tax deduction at source applies to long-term capital gains from transfer of units referred to in section 208 when payable to an Offshore Fund. Any person responsible for making the payment must deduct tax at source at 12.5%. The obligation is limited to long-term capital gains, and no monetary threshold is prescribed for deduction. The provision corresponds to the earlier framework for withholding on gains payable to an Offshore Fund.
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