Insertion of new section 196D

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..... , the following section shall be inserted with effect from the 1st day of June, 1993, namely :- "196D. Income of Foreign Institutional Investors from securities. - (1) Where any income in re .....

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..... rate of twenty per cent. (2) No deduction of tax shall be made from any income, by way of capital gains arising from the transfer of securities referred to in section 115AD, payable to a Foreign Ins .....

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