Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer

Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer – Section 115AC https://www.taxtmi.com/manuals?id=1283 Non resident income from interest on specified bonds purchased in foreign currency and dividends on GDRs attract concessional flat rates, with long term capital gains on transfer of such instruments taxed at a substituted concessional rate. The regime disallows expense and chapter VI A deductions in specified cases, excludes certain provisos for cost computation for LTCG, permits carry forward and set off of losses but not unabsorbed depreciation, and exempts return filing when income consists only of interest subject to TDS. en-us Fri, 09 Oct 2015 18:06:00 +0530 Wed, 28 Aug 2024 18:51:00 +0530 TaxTMI RSS Generator Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer – Section 115AC https://www.taxtmi.com/manuals?id=1283 Non resident income from interest on specified bonds purchased in foreign currency and dividends on GDRs attract concessional flat rates, with long term capital gains on transfer of such instruments taxed at a substituted concessional rate. The regime disallows expense and chapter VI A deductions in specified cases, excludes certain provisos for cost computation for LTCG, permits carry forward and set off of losses but not unabsorbed depreciation, and exempts return filing when income consists only of interest subject to TDS. Manuals Income Tax Fri, 09 Oct 2015 18:06:00 +0530 https://www.taxtmi.com/manuals?id=1283