Legislative framework governing the taxation of income derived by non-residents from bonds and Global Depository Receipt : Clause 209 of Income Tax Bill, 2025 Vs. Section 115AC of the Income-tax Act, 1961
1 May, 2025
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Concessional tax regime for non resident bond and GDR income ensures specified rates, filing exemptions, and notification based eligibility. Clause 209 creates a concessional tax regime for non resident income from specified bonds and GDRs purchased in foreign currency, requiring purchase ... Summary
Concessional tax regime for non resident bond and GDR income ensures specified rates, filing exemptions, and notification based eligibility.
Clause 209 creates a concessional tax regime for non resident income from specified bonds and GDRs purchased in foreign currency, requiring purchase through an approved intermediary for GDRs under government notified schemes; it prescribes specific tax rates for interest, dividends and long term capital gains, restricts deductions where specified income is sole income, ring fences capital gains by disallowing set off provisions for computation, exempts non residents from return filing when TDS is applied, and preserves treatment on amalgamation or demerger.
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