Special provision for computation of total income of non-residents
Special provision for computation of total income of non-residents.
213. (1) No deduction in respect of any expenditure or allowance shall be allowed under any provision of this Act in computing the investment income of a non-resident Indian.
(2) In the case of an assessee, being a non-resident Indian, where—
| (a) | the gross total income consists only of investment income or income by way of long-term capital gains or both, then no deduction shall be allowed under Chapter VIII; | |
| (b) | the gross total income includes any income referred to in clause (a),— |
| (i) | the gross total income shall be reduced by such income; and | |
| (ii) | the deductions under Chapter VIII shall be allowed as if the gross total income as so reduced was the gross total income of the assessee. |