TMI BlogTax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer – Section 115ACX X X X Extracts X X X X X X X X Extracts X X X X ..... C Where the total income of an assessee, being a non-resident, includes - Nature of Income Rate of Tax (a) Income by way of interest on bonds of an Indian company or on bonds of a public sector company sold by the Government, and purchased by him in foreign currency, or 10% (b) Income by wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of LTCG. Where the asessee acquired GDR or Bonds in an amalgamated or resulting company by virtue of his holding GDR or bonds in the amalgamating or demerged company, the concessional tax treatment would apply to such GDR or bonds. No deduction under chapter VI-A shall be allowed from such income by way of interest. No return is required to be submitted u/s 139(1) if the total of the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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