Income-tax Act, 1961
Section - 115C - Definitions
CHAPTER XII-ASPECIAL PROVISIONS RELATING TO CERTAIN INCOMES OF NON-RESIDENTSDefinitions.115C. In this Chapter, unless the context otherwise requires,-
| (a) | - | "convertible foreign exchange" means foreign exchange which is for the time being treated by the Reserve Bank of India as convertible foreign exchange for the purposes of the Foreign Exchange Management Act, 1999 (42 of 1999), and any rules made thereunder; |
| (b) | - | "foreign exchange asset" means any specified asset which the assessee has acquired or purchased with, or subscribed to in, convertible foreign exchange; |
| (c) | - | "investment income" means any income derived from a foreign exchange asset; |
| (d) | - | "long-term capital gains" means income chargeable under the head "Capital gains" relating to a capital asset, being a foreign exchange asset which is not .... To read the full section download the app from Google Play store
ARTICLESHIP
17 August 2026
Article AssistantK R Kiran Kumar & Associates Bengaluru CA Inter View Details
09 September 2026
Semi Qualified CA / CA Inter - 2 Groups ClearedGetmyca Consultant Pvt Ltd New Delhi CA Inter View Details
18 August 2026
Audit Assistant - Remote / Work From HomeCA ANOOP P K & ASSOCIATES Kozhikode CA Inter View Details
CCI
Pro
|
CAclubindia
