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Gains from transfer of derivatives (F&O) by FPI also exempt from levy of enhanced surcharge: CBDT

August 26, 2019
The CBDT has clarified that in the case of Foreign Institutional Investors (FPI), the derivatives are treated as capital assets, thus, tax payable on gains arising from the transfer of derivatives (Future & options) by FPI, which are liable to special rate of tax under section 115AD, shall also be exempted from the levy of the enhanced surcharge.
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