Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....calculated on the income in respect of securities referred to in clause (a), if any, included in the total income,- (A) at the rate of twenty per cent. in case of Foreign Institutional Investor; (B) at the rate of ten per cent. in case of specified fund:] 6[Provided that the amount of income-tax calculated on the income by way of interest referred to in section 194LD shall be at the rate of five per cent;] (ii) the amount of income-tax calculated on the income by way of short-term capital gains referred to in clause (b), if any, included in the total income, at the rate of thirty per cent: 18[Provided that the amount of income-tax calculated on the income by way of short-term capital gains referred to in section 111A shall be at t....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sident (not being a permanent establishment of a non-resident in India) calculated in the prescribed manner.] 16[(1B) Notwithstanding anything contained in sub-section (1), where the specified fund is investment division of an offshore banking unit, the provisions of this section shall apply to the extent of income that is attributable to the investment division of such banking units, referred to in sub-clause (ii) of clause (c) to the Explanation to clause (4D) of section 10, as a Category-I portfolio investor under the Securities and Exchange Board of India (Foreign Portfolio Investors) Regulations, 2019 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992), calculated in such manner as may be prescribed.] (2) Whe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....tracts (Regulation) Act, 1956 (42 of 1956); (d) the expression "specified fund" shall have the same meaning assigned to it in clause (c) of the Explanation to clause (4D) of section 10.]]     **************** NOTES:- 1. Inserted vide Section 21 of the Finance Act, 1993 w.e.f. 01-04-1993  2. Substituted vide Section 38 of the Finance (No. 2) Act, 1998 w.e.f. 01-04-1999 before it was read as, "(a) income other than income by way of dividends referred to in section 115-O received in respect of securities (other than units referred to in section 115AB) listed in a recognised stock exchange in India in accordance with the provisions of the Securities Contracts (Regulation) Act, 1956 (42 of 1956), and any....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....20 w.e.f. 01-04-2021 before it was read as, "(i) the amount of income-tax calculated on the income in respect of securities referred to in clause (a), if any, included in the total income, at the rate of twenty per cent;" 12. Substituted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020 w.e.f. 01-04-2021 before it was read as, "Foreign Institutional Investor" 13.  Inserted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Act 2020 w.e.f. 01-04-2021 14. Substituted vide Section 4 of the The Taxation and Other Laws (Relaxation and Amendment of Certain Provisio....