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

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....sfer. (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 income-tax computed at the rate specified in the column C applied on the corresponding income specified in column B. Table Sl.No. Income Rate of income-tax payable A B C 1. From interest o....

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....ian company purchased in foreign currency through an approved intermediary. 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. Rates in force. (2) Where the gross total inc....

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....tion of long-term capital gains arising out of the transfer 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 ^1[sub-section]&nb....