Determination of income of a specified fund attributable to investment division of an offshore banking unit under section 210(3)

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ed fund, being the investment division of an offshore banking unit shall be computed in accordance with the following formula:- A + B + C + D + E Where, - A = income from securities, held by the eligible investment division, as referred to in section 210(1) [Table: Sl. No. 1]; B = income by way of short-term capital gain referred to in section 210(1)[Table: Sl. ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....g-term capital gain referred to in section 210(1)[Table: Sl. No. 5], accrued or arisen to, or received by the eligible investment division, as a result of transfer of a security referred to in section 198, and held by such investment division. (2) Any expenditure incurred in relation to income referred to in A or B or C or D or E in sub-rule (1) shall not be allowed as a deduction from any othe....