Company: WIT
Filing Date: 2025-05-22
Form Type: 20-F
Source: 0000950170-25-076303
Chunk: 153

Company: WIPRO LTD
Filing Date: 2025-05-22
Form: 20-F
Item: Item 10
Chunk 153
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 24 months or less and 12 months or less, respectively, are considered short term capital gains. Capital gains are taxed as follows:
•Gains from a sale of ADSs outside India, by a non-resident to another non-resident are not taxable in India.
•With effect from July 23, 2024, long-term capital gains realized by a resident holder from the transfer of the ADSs will be subject to tax at the rate of 12.5% as compared to 10% previously. Short-term capital gains on such a transfer as per the provisions of the Income-tax Act will be taxed at graduated rates with a maximum of 30%.
•With effect from July 23, 2024, long-term capital gains realized by a non-resident upon the sale of equity shares obtained through the redemption of ADSs, or settlement of such sale being made off a recognized stock exchange, are subject to tax at a rate of 12.5% as compared to 10% previously as per the provisions of the Income-tax Act, 1961.
•Long-term capital gains realized by a non-resident upon the sale of equity shares obtained through the redemption of ADSs, or settlement of such sale being made on a recognized stock exchange, is exempt from tax for sale executed before March 31, 2018 and the short-term capital gains on such sale will be taxed at 20% (effective from July 23, 2024) as compared to 15% previously. An additional tax called “Securities Transaction Tax”, or “STT” (as defined and described in further detail below) will be levied at the time of settlement. The Finance Act 2018 introduced a section “112A” effective April 01, 2018—Long-term capital gains on such sale executed from April 1, 2018 will be taxable, subject to a threshold exemption of ₹ 125,000 (effective from July 23, 2024 for financial year 2024-25 and onwards). However, the cost of acquisition would be taken as higher of actual cost and prevailing price as of January 31, 2018 (prevailing price would be restricted to the actual sale price if lower than the prevailing price as of January 31, 2018). 
The Finance Act, 2015 amended the law to compute the holding period of capital asset being share or shares of a company, acquired by a non-resident on redemption of GDR, from the