Computation of capital gains: new rules require deduction of transfer costs and indexed cost adjustments; special foreign-currency rule for non-residents.

Computation of capital gains requires deducting transfer-related expenditure and the cost of acquisition and any improvements from the full value of consideration; non-residents transferring shares or debentures of an Indian company must compute gains in the foreign currency originally used for purchase and reconvert to Indian currency; long-term capital gains otherwise employ indexed cost of acquisition and improvement based on the Cost Inflation Index notified by the Government.

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