Insertion of new section 115ACA

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....n foreign currency or capital gains arising from their transfer. (1) Where the total income of an assessee, being an individual, who is a resident and an employee of an Indian company engaged in information technology software and information technology services (hereafter in this section referred to as the resident employee), includes - (a) income by way of dividends, other than....

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....e total income, at the rate of ten per cent.; (ii) the amount of income-tax calculated on the income by way of long-term capital gains referred to in clause (b), if any, at the rate of ten per cent.; and (iii) the amount of income-tax with which the resident employee would have been chargeable had his total income been reduced by the amount of income referred to in clauses (a) an....

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....s arising out of the transfer of long-term capital asset, being Global Depository Receipts referred to in clause (b) of sub-section (1). Explanation. - For the purposes of this section, - (a) "Global Depository Receipts" means any instrument in the form of a depository receipt or certificate (by whatever name called) created by the Overseas Depository Bank outside India and issue....