Home List Manuals Income TaxIncome Tax - Ready ReckonerTax Liability in special Circumstances / Specific Cases This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer – Section 115ACA - Income Tax - Ready Reckoner - Income TaxExtract Tax on income from Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer Section 115ACA Income received by R esident Individual and an employee of an Indian company or its subsidiary engaged in specified knowledge-based industry or service GDR issued as per ESOP s Tax Rate:- Dividend on GDR of an Indian company 10% Long-term capital gain on transfer of such GDRs 10% Explanation: Specified knowledge based industry or service means- Information technology software; Information technology service; Entertainment service; Pharmaceutical industry; Bio-technology industry; and Any other industry or service, as may be specified by the central government Notes:- GDR means any instrument in the form of a depositary receipt or certificate created by the Overseas Depository Bank outside India or in an IFSC and issued to investors against the issue of Ordinary shares of company listed on a recognised stock exchange in India; or Foreign Currency convertible bonds of issuing company; Ordinay Shares of issuing company, being a company incorporated outside India, if such depositary receipt or certificate is listed and traded on any IFSC. First Proviso Second Proviso To Section 48 : shall not apply for computation of LTCG arising out of LTCA being GDR.
|