https://www.taxtmi.com/acts?id=46833 Chapter XII-A creates a special tax regime for non-resident Indians' incomes from assets acquired with convertible foreign exchange, defining convertible foreign exchange, foreign exchange asset, investment income, long-term capital gains and specified assets. It disallows deductions when computing investment income, limits Chapter VI-A deductions where gross income is solely investment income or long-term gains, prescribes a distinct tax computation for such incomes, grants rollover relief for reinvested long-term capital gains with recapture on early conversion, and provides filing, transitional continuation and opt-out election provisions. en-us Tue, 31 Dec 2024 17:10:52 +0530 Tue, 31 Dec 2024 17:10:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=46833 Chapter XII-A creates a special tax regime for non-resident Indians' incomes from assets acquired with convertible foreign exchange, defining convertible foreign exchange, foreign exchange asset, investment income, long-term capital gains and specified assets. It disallows deductions when computing investment income, limits Chapter VI-A deductions where gross income is solely investment income or long-term gains, prescribes a distinct tax computation for such incomes, grants rollover relief for reinvested long-term capital gains with recapture on early conversion, and provides filing, transitional continuation and opt-out election provisions. Act-Rules F. Acts / Amendment Acts Tue, 31 Dec 2024 17:10:52 +0530 https://www.taxtmi.com/acts?id=46833