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

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....ransfer. 209. (1) The income-tax payable, on the total income of an assessee, being a non-resident, which includes income specified in column B of the Table below, shall be the aggregate of the amounts mentioned in column C thereof. Table Sl.No. Income Income-tax payable A B C 1. From interest on-- (a) bonds of an Indian company issued as per^[1] with su....

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....ermediary. 10% 3. Long-term capital gains arising from the transfer of bonds referred to against serial number 1 or Global Depository Receipts referred to against serial number 2. 12.5% 4. Total income as reduced by income referred to against serial numbers 1 to 3. Income-tax chargeable on such income. (2) Where the gross total income of the non-resident- (a) consi....

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....r of long-term capital asset being bonds or Global Depository Receipts referred to in sub-section (1) (Table: Sl. No. 3). (4) It shall not be necessary for a non-resident to furnish a return of his income under section 263(1), if- (a) his total income during the tax year consisted only of income referred to in sub-sections (1) (Table: Sl. No. 1) and (Table: Sl. No. 2); and (b)....