Long-term capital gains withholding requires any payer to deduct tax on unit transfers payable to Offshore Funds. Tax deduction at source applies to long-term capital gains payable to an Offshore Fund on transfer of units referred to in section 208. Any person ... Summary
Long-term capital gains withholding requires any payer to deduct tax on unit transfers payable to Offshore Funds.
Tax deduction at source applies to long-term capital gains payable to an Offshore Fund on transfer of units referred to in section 208. Any person responsible for payment must deduct tax at 12.5%, without any monetary threshold. The mechanism retains the earlier framework concerning the recipient, deductor, rate of deduction, and absence of a threshold exemption.
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