Tax on income from units purchased in foreign currency 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

....ome of an assessee, being an overseas financial organisation (herein referred to as Offshore Fund), which includes income specified in column B of the Table below, shall be the aggregate of the amount specified in column C thereof. Table Sl. No. Income Income-tax payable A B C 1. Income received in respect of units purchased in foreign currency. 10 % 2. Long-ter....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....come of the assessee. (3) In this section,-- (a) "overseas financial organisation" means any fund, institution, association or body, whether incorporated or not, established under the laws of a country outside India,-- (i) which has entered into an arrangement for investment in India with any public sector bank or public financial institution or a mutual fund specified in Sche....