Section 208(1) in The Income Tax Act, 2025

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Union of India - Subsection

Section 208(1) in The Income Tax Act, 2025

(1)The income-tax payable on the total income of an assessee, being an overseas financial organisation (herein referred to as Offshore Fund), which includes income specified in column B of the Table below, shall be the aggregate of income-tax computed at the rate specified in the column C applied on the corresponding income specified in column B.Table

Sl.No.	Income	Rate of income-tax payable
A	B	C
1.	Income received in respect of units purchased in foreign currency.	10 %
2.	Long-term capital gains arising from the transfer of units purchased in foreign currency.	12.5%
3.	Total income as reduced by income referred against serial numbers 1 and 2.	Rates in force.

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Union of India - Subsection

Section 208(1) in The Income Tax Act, 2025