|
Section
of charge of tax
|
Particulars
of specified incomes |
Assessment
years 1998-99 and 1999-2000
|
| Income
Tax |
| 112 |
Long-term capital gains |
|
| a. Individual and Hindu undivided family
|
- Resident
|
20*
|
- Non-resident**
|
20*
|
| b. Company |
|
- Domestic
|
20
|
- Foreign**
|
20
|
| c. Any other - |
|
- Resident
|
20
|
- Non-resident**
|
20
|
|
* Subject to proviso to section 112(1)(a).
** In case of long-term capital gain covered by section 115AB,
115AC or 115AD, it is taxable at 10%.
|
| 113 |
Undisclosed income of the block period determined
under section 158BC |
60
|
|
115A(1)
|
Dividend received by a foreign company or
a non-resident non-corporate assessee [* it is not applicable in the
case of dividends referred to in section 115-O] |
20
|
|
115A(1)
|
Interest received by a foreign company or
a non-resident non- corporate assessee from Government or an Indian
concern on moneys borrowed or debt incurred by Government or the Indian
concern in foreign currency |
20
|
|
115A(1)
|
Income received by a foreign company or a
non-resident non- corporate assessee in respect of units, purchased
in foreign currency, of a Mutual Fund specified under section 10(23D)
or of UTI |
20
|
|
115A(1)(b)
|
Royality or fees for technical services received
by a foreign company from an Indian concern or Government in pursuance
of an agreement approved by the Central Government and made after
|
|
| a. March 31, 1976 but before June1, 1977
|
30
|
| b. May31, 1997 |
20
|
|
115AB
|
Income of an overseas finance organisation
from units purchased in foreign currency or long-term capital gains
arising from their transfer |
10 |
|
115AC
|
Income from bonds or shares** or on bonds
or shares of a public sector company sold by the Government and purchased
in foreign currency or long-term capital gains arising from their
transfer
[* not applicable in the acase of dividends referred to in section
115-O]
[** Issued by an Indian company in accordance with the Foreign
Currency Convertible Bonds and Ordinary Shares (Through Depository
Receipt Mechanisam) Scheme, 1993
|
10* |
|
115AD
|
Income in respect of listed securities received
by a Foreign Institutional Investor as specified** by the Government
|
|
- Short-term capital gain
|
30
|
- Long-term capital gain
|
10 |
- Other income
|
20*
|
| [* not applicable in the case
of dividends referred to in section 115-O]
[** For notified Foreign Institutional Investor]
|
|
115B
|
Profits and gains of life insurance business |
12.5 |
|
115BB
|
Winnings from lotteries, crossword puzzles,
or race including horse race (not being income from the activity of
owning and maintaining race horse) or card game and other game of
any sort or from gambling or betting of any form or nature |
40
|
|
115BBA
|
Income of a non-resident foreign citizen
sportsman for participation in any game in India or received by way
of advertisement or for contribution of articles relating to any game
or sport in India or income of a non-resident sport association by
way of guarantee money
|
10
|
|
115E
|
Income from foreign exchange assets and capital
gains of non-resident Indian |
|
- Income from foreign exchange assets [* not includible in the
case of dividend referred to in section 115-O]
|
20*
|
- Long-term capital gain
|
10
|
|
161(1A)
|
Profits and gains of a business in the case
of a trust |
30
|
| 164 |
Income of private discretionary trust where
shares of beneficiaries are indeterminate |
30
|
|
164A
|
Income of an oral trust |
30 |
|
167A
|
Income of a firm |
35 |
|
167B(1)
|
Income of an association of persons or body
of individuals if shares of members are unknown |
30
|
|
167B(2)
|
Income of an association of persons or body
of individuals if total income of any member (excluding share from
the association or body) exceeds Rs.40,000/- for the assessment year
1998-99 or Rs.50,000/- for the assessment year 1999-2000.
[if total income of any member of the association or body is chargeable
to tax at a rate higher than 30 per cent, then tax shall be charged
on that portion of the total income of the association/body which
is relatable to the share of such member at such higher rate and
the balance of the total income is taxable at a rate of 30 per cent.]
|
30
|
|
293A
|
Income consisting of profits and gains derived
by a foreign company or a non-resident from prospecting for, or extraction/production
of, mineral oils under agreement entered into with Union Government
[vide notification no. GSR 643(E), dated July 6, 1987] |
50
|
| 293A |
Income consisting of profit or gain derived
by an Indian company with whom the Central Government has entered
into the agreement for participation in any business consisting of
the prospecting for or extraction or production of mineral oil [vide
Notification No 9138, dated Nov.26, 1992 |
50
|
