Concessional LTCG Rate for Non-Residents Overrides Higher TDS Demands

ITO Vs Godrej Agrovet Limited (ITAT Mumbai)

Lower TDS @ 11.54% on LTCG of Non-Resident Shareholders Upheld: Mumbai ITAT Dismisses Revenue’s s.201 Appeal

The Mumbai Bench of the ITAT dismissed Revenue’s appeal and upheld the order of CIT(A), holding that TDS @ 11.54% on long-term capital gains arising to non-resident individual shareholders from transfer of shares was correct and in accordance with section 112(1)(c)(iii).

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