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Section 115E – Income Tax Act, 1961

Income Tax Act, 1961

 

Section 115E. TAX ON INVESTMENT INCOME AND LONG-TERM CAPITAL GAINS.

 

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).

 

 

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Income Tax Act, 1961 

 

Indian Laws – Bare Acts

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