If the seller of equity shares in a company or any unit of an equity oriented fund is a non- resident and the transaction is short term, then the buyer is obligated to deduct tax @ 15% and pay the same to the Government account within 7 days [Section 111A].
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The contents of this website should not be construed as an exhaustive statement of law. In case of doubt, reference should always be made to the relevant provisions of the Direct Tax Laws and Rules and where necessary, notifications issued from time to time. Content provided by Income Tax Department, Mumbai. For any clarification regarding content, please contact the PRO, Income Tax Department, Mumbai.
The contents of this website should not be construed as an exhaustive statement of law. In case of doubt, reference should always be made to the relevant provisions of the Direct Tax Laws and Rules and where necessary, notifications issued from time to time. Content provided by Income Tax Department, Mumbai. For any clarification regarding content, please contact the PRO, Income Tax Department, Mumbai.
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