T22: NRI- Special Rates of Tax in some cases

112(1)(c) Long Term Capital Gains 20%

112(1)(c) Long term capital gains arising from transfer of a capital asset, being unlisted securities which is calculated without taking into consideration benefit of indexation 10%

112(1)(c) Concessional rate of tax if long term capital gains arising from transfer of listed securities or units or zero coupon bonds is calculated without taking into consideration the benefit of indexation. If transfer takes place after July 10, 2014, the above concessional rate of tax will not be available in case of long-term capital gain arising from transfer of units (As amended by the Finance (No. 2) Act, 2014). 10%

111A Concessional rate of tax if short term capital gains arising from transfer of equity shares or units of an equity oriented fund, or a unit of business trust is chargeable to securities transaction tax. However, the concessional tax rate will not apply to any income arising from transfer of any units of a business trust which were acquired in consideration of a transfer referred to in section 47(xvii). 15%

112A The Finance Act, 2018 withdraws the exemption under Section 10(38) and levies tax on the capital gains arising from transfer of long-term capital assets, being listed equity shares, units of equity oriented fund or unit of business trust. The tax shall be levied on the long-term capital gains in excess of Rs. 1 lakh at the rate of 10%. The capital gains shall be computed without applying the first and second proviso to Section 48 10%

115A(1)(a)(i) Dividends 20%

115A(1)(a)(ii) Interest received from Government or an Indian concern on monies borrowed or debt incurred in foreign currency 20%

115A(1)(a)(iia) Interest from notified Infrastructure Debt Fund as referred to in section 10(47) 5%

115A(1)(a)(iiaa) Interest of the nature and extent referred to in section 194LC 5% or 4%

115A(1)(a)(iiab) Distributed income being interest referred to in Section 194LBA 5% or 10% or 30%

115A(1)(a)(iiac) Interest received from business trusts, being of the nature referred to Section 10(23FC), by its unit holders as referred to in Section 194LBA (Subject to certain conditions). 5%

115A(1)(a)(iii) Income in respect of units purchased of a Mutual Funds in foreign currency [specified under section 10(23D) or of UTI] 20%

115A(1)(b) Income by way of Royalty or FTS (other than income referred to in Section 44DA) received in pursuance of an agreement made at any time after 31- 03-1976. 25%

115AB Income of an overseas financial organization on transfer of units purchased in foreign currency being long-term capital gains 10%

115AC Income from bonds or GDRs of a public sector company sold by the Government and purchased in foreign currency or long-term capital gains arising from their transfer 10%

115AD(b) Short term capital gains earned by FIIs as referred to in Section 111A 15%

115AD(b) Any other short term capital gain earned by FIIs (other than as referred to in Section 111A) 30%

115AD(b) Long term capital gains earned by FIIs 10%

115AD(a) Interest referred to in section 194LD earned by FIIs 5%

115AD(a) Other income earned by FIIs 20% for FIIs & 10% for specified fund 115BBA(1)(a)/(b) Income of a non-resident foreign citizen sportsman for participation in any game in India or received by way of advertisement or for contribution of articles relating to any game or sport in India or income of a non-resident sport association by way of guarantee money 20%

115BBA(1)(c) Income of non-resident foreign citizen (being an entertainer) for performance in India 20%

115E Income from foreign exchange asset of non-resident Indian 20%

115E Long-term capital gain from transfer of foreign exchange asset by nonresident Indian 10%

For more details refer: https://www.incometaxindia.gov.in/pages/i-am/non-resident.aspx

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