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of <h1>Global Depository Receipts under Section 115ACA: Instruments by Overseas Banks for International Trade and Investment.</h1> Global Depository Receipts (GDRs) are defined for the purposes of section 115ACA of the Income Tax Act, 1961, as instruments such as depository receipts or certificates created by an Overseas Depository Bank outside India or in an International Financial Services Centre. These are issued to investors against ordinary shares of a company listed on a recognized stock exchange in India, foreign currency convertible bonds of the issuing company, or ordinary shares of a company incorporated outside India, provided the depository receipt or certificate is listed and traded on an International Financial Services Centre.
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