Home Acts & Rules Income Tax Act Income-tax Act, 1961 Chapters List Chapter XII-A SPECIAL PROVISIONS RELATING TO CERTAIN INCOMES OF NON-RESIDENTS This
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Section 115E - Tax on investment income and long-term capital gains - Income-tax Act, 1961Extract 1 [Tax on investment income and long-term capital gains. 115E. Where the total income of an assessee, being a non-resident Indian, includes- ( a ) any income from investment or income from long-term capital gains of an asset other than a specified asset; ( b ) income by way of long-term capital gains, the tax payable by him shall be the aggregate of- ( i ) the amount of income-tax calculated on the income in respect of investment income referred to in clause ( a ), if any, included in the total income, at the rate of twenty per cent; ( ii ) the amount of income-tax calculated on the income by way of long-term capital gains referred to in clause ( b ), if any, included in the total income, at the rate of ten per cent; and ( iii ) the amount of income-tax with which he would have been chargeable had his total income been reduced by the amount of income referred to in clauses ( a ) and ( b ). ] ------------------------ Notes :- 1. Substituted by the Finance Act, 1997, w.e.f. 1-4-1998. Prior to its substitution, section 115E was amended by the Finance Act, 1985, w.e.f. 1-4-1986.
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