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

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....income of an assessee, being an individual, who is a resident and an employee of an Indian company engaged in specified knowledge based industry or service, or an employee of its subsidiary engaged in specified knowledge based industry or service (hereafter in this section referred to as the resident employee), includes income specified in column B of the Table below, the income-tax payable shall ....

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....f dividends in respect of Global Depository Receipts referred to in sub-section (1)(Table: Sl. No. 1), no deduction shall be allowed to him under any other provision of this Act; (b) includes any income referred to in sub-section (1)(Table: Sl. No. 1) and (Table: Sl. No. 2),-- (i) the gross total income shall be reduced by such income; and (ii) the deduction under any pr....

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.... currency convertible bonds of issuing company; (iii) ordinary shares of issuing company, being a company incorporated outside India, if such depository receipt or certificate is listed and traded on any International Financial Services Centre; (b) "information technology service" means any service which results from the use of any information technology software over a system of....

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....ogy software; (ii) information technology service; (iii) entertainment service; (iv) pharmaceutical industry; (v) bio-technology industry; and (vi) any other industry or service, as specified by the Central Government, by notification; and (f) "subsidiary" shall have the same meaning as assigned to it in section 2(87) of the Companies Act, 2013....