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| What is the tax rates for Non Resident India for Income from Investment & Long Term Capital Gain.? |
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| As per Section 115E of the income tax Act,1961 where the total income of an assessee, being a non-resident Indian, includes |
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| (a) |
any income from investment or income from long-term capital gains of an asset other than a specified asset; |
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| (b) |
income by way of long-term capital gains, |
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the tax payable by him shall be the aggregate of |
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| (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 20%; |
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| (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 10%; and |
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| (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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| When Non Resident Indian Not require to file his return of income? |
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| As per Section 115G of the Income Tax Act,1961 it shall not be necessary for a non-resident Indian to furnish under sub-section (1) of section 139 a return of his income if |
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| (a) |
his total income in respect of which he is assessable under this Act during the previous year consisted only of investment income or income by way of long-term capital gains or both; and |
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| (b) |
the tax deductible at source under the provisions of Chapter XVII-B has been deducted from such income. |
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| What are the Income Tax benefits to the SEZ units ??? |
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