Insertion of new section 115ACA

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..... apital gains arising from their transfer. (1) Where the total income of an assessee, being an individual, who is a resident and an employee of an Indian company engaged in information technology software and information technology services (hereafter in this section referred to as the resident employee), includes - (a) income by way of dividends, other than dividends referred to in section 115 .....

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..... mount of income-tax calculated on the income by way of long-term capital gains referred to in clause (b), if any, at the rate of ten per cent.; and (iii) the amount of income-tax with which the resident employee would have been chargeable had his total income been reduced by the amount of income referred to in clauses (a) and (b). (2) Where the gross total income of the resident employee - ( .....

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..... to in clause (b) of sub-section (1). Explanation. - For the purposes of this section, - (a) "Global Depository Receipts" means any instrument in the form of a depository receipt or certificate (by whatever name called) created by the Overseas Depository Bank outside India and issued to non-resident investors against the issue of ordinary shares or foreign currency convertible bonds of issuing .....

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