https://www.taxtmi.com/acts?id=3209 Income of an overseas financial organisation from units purchased in foreign currency or long term capital gains on their transfer is taxed by aggregating: ten per cent on income from such units; a special rate on long term capital gains (ten per cent before the amendment date and twelve and one half per cent thereafter); and the tax on remaining income after excluding those components. If such income alone comprises the gross total income, specified deductions and a proviso to capital gains computation are disallowed; if it is only part, the gross total income is reduced by that income for Chapter VI A deductions. en-us Sat, 19 Jan 2008 22:45:54 +0530 Wed, 18 Jun 2025 13:14:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3209 Income of an overseas financial organisation from units purchased in foreign currency or long term capital gains on their transfer is taxed by aggregating: ten per cent on income from such units; a special rate on long term capital gains (ten per cent before the amendment date and twelve and one half per cent thereafter); and the tax on remaining income after excluding those components. If such income alone comprises the gross total income, specified deductions and a proviso to capital gains computation are disallowed; if it is only part, the gross total income is reduced by that income for Chapter VI A deductions. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3209