Rationalisation of taxation of capital gains on transfer of capital assets by non-residents

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Full Text of the Document

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....e that where the total income of a specified fund or Foreign Institutional Investor includes-- (a) income received in respect of securities (other than units referred to in section 115AB); or (b) income by way of short-term or long-term capital gains arising from the transfer of such securities, the income-tax on the income by way of long-term capital gains referred to in clause (b), if any, ....