Category: CA Final International Taxation

SHORT TERM AND LONG-TERM CAPITAL ASSET For the purpose of, computing capital gains, a Capital Asset is divided into two categories : – Short term

TRANSACTIONS NOT REGARDED AS TRANSFER – SECTION 47 OF INCOME TAX ACT Under the provisions of the Income Tax Act, capital gains arise when there

MODE OF COMPUTATION OF CAPITAL GAINS – SECTION 48 OF INCOME TAX ACT Mode of computation of capital gains means, the method that should be

SHORT TERM CAPITAL GAINS TAX IN RESPECT OF EQUITY SHARES/ UNITS OF AN EQUITY ORIENTED FUND – SECTION 111A OF INCOME TAX ACT Where any

TAX ON LONG TERM CAPITAL GAINS – SECTION 112 OF INCOME TAX ACT CONCESSIONAL RATE OF 10% TAX RATE ON SHARES OF PRIVATE COMPANY AND

The provisions of “Chapter XII-A of Income Tax Act – Special provisions relating to certain incomes of non-residents”contains sections 115C, 115D, 115E, 115F, 115G, 115H

Special Provisions for Computing Tax on Income from Bonds or Global Depository Receipts – Section 115AC of Income tax act Under the provisions of the

Tax on Income of Foreign Institutional Investors – Section 115AD of Income Tax Act Who are  ‘Foreign Institutional Investor ? ‘ A Foreign Institutional investor

Tax on Non Resident Sportsmen or Sports association – Section 115bba of Income Tax Act INCOME OF NON-RESIDENT SPORTSMEN Where a non-resident sportsman (including an

MISCELLANEOUS PROVISIONS FOR NON-RESIDENTS Under the provision of Section 139, following person are mandatorily required to file return of income : – Company or firm

Where the branch of a foreign company, which is engaged in banking business in India is converted into an Indian subsidiary of such foreign company