Section 115H of ITA, 1961 : Section 115H: Benefit Under Chapter To Be Available In Certain Cases Even After The Assessee Become Resident
ITA, 1961
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Explanation using Example
Imagine Mr. Sharma, who was a non-resident Indian working in Dubai, had invested in certain Indian equities that qualify as foreign exchange assets. In the financial year 2023-2024, Mr. Sharma decides to return to India and becomes a resident for tax purposes. He is concerned that his investment income from these equities, which was previously taxed at a concessional rate due to his non-r...
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