Section 213 — Special provision for computation of total income of non-residents
Old Act equivalent: Section 115D of IT Act 1961 Sub-part: E—Special provisions relating to non-residents and foreign companies
Statutory Text
- (1) No deduction in respect of any expenditure or allowance shall be allowed under any provision of this Act in computing the investment income of a non-resident Indian. (2) In the case of an assessee, being a non-resident Indian, where—
(a) the gross total income consists only of investment income or income by way of long-term capital gains or both, then no deduction shall be allowed under Chapter VIII;
(b) the gross total income includes any income referred to in clause (a),—
(i) the gross total income shall be reduced by such income; and
(ii) the deductions under Chapter VIII shall be allowed as if the gross total income as so reduced was the gross total income of the asses see. Tax on investment income and long-term capital gains.
Provisos
None.
Explanations
None.
Tables
None.
Key Structure
- Applies to: Non-resident Indian computing total income including investment income or LTCG from foreign exchange assets.
- Conditions: No deduction allowed under Chapter VIII from investment income or LTCG on specified/foreign exchange assets.
- Time limits: None.
- Monetary limits: None.
- Exceptions: None.
Cross-References
None identified.
Amendment Notes
None noted from the extracted pages.