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SEC 115AD Tax on Income of Foreign Institutional Investor(FII)

Income Tax - Computation of Income or Rate of Tax in case of Specified Income or in Specified Type of Assesses (Section 115 series) - 05 - SEC - 115AD: TAX ON INCOME OF FOREIGN INSTITUTIONAL INVESTOR(FII) 1) APPLICABLE TO: Foreign Institutional Investor 2) APPLICABLE FOR: i. income received in respect of securities (other than units referred to in section 115AB) ii. income by way of short-term or long-term capital gains arising from the transfer of such securities 3) TAX RATES: the income tax on .....

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equity shares shall be exempt u/s 10(38) provided such transaction is subject to securities Transaction tax 4) NO DEDUCTION ALLOWED: where the GTI of the assessee includes income in respect of securities mentioned above neither deduction u/s 28 to 44C nor u/s 57C, nor under chapter VI A shall be allowed from such income. Further, no deduction under chapter VIA shall be allowed from such short-term or long term capital gain. 5) FIRST PROVISO & SECOND PROVISO TO SECTION 48: For computing capi .....

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