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).
