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

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....f 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 be the ag....

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....ident employee- (a) consists only of income by way of 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 or 2),-- (i) the gross total income shall be reduced by such income;....

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.... a recognised stock exchange in India; or (ii) foreign currency convertible bonds of issuing company; or (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 fr....