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Non-resident sellers of Andhra Pradesh Paper Mills shares to pay 10.506% tax on long-term capital gains per section 112(1).
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....The tax payable by the Applicant (Non-resident) on the long term capital gains arising on the sale of equity shares of Andhra Pradesh Paper Mills Limited, an Indian listed company, are required to be computed at 10.506% (inclusive of surcharge and cess) of the amount of capital gains, as per the proviso to section 112(1) of the Income tax Act, 1961. - AAR....