Section 115AB(1)(b) in The Income Tax Act, 1961

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Union of India - Subsection

Section 115AB(1)(b) in The Income Tax Act, 1961

(b)income by way of long-term capital gains arising from the transfer of units purchased in foreign currency, the income-tax payable shall be the aggregate of-

(i)the amount of income-tax calculated on the income in respect of units referred to in clause (a), if any, included in the total income, at the rate of ten 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 the Offshore Fund would have been chargeable had its total income been reduced by the amount of income referred to in clause (a) and clause (b).

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Union of India - Subsection

Section 115AB(1)(b) in The Income Tax Act, 1961