Indexation benefit extended to sovereign gold bonds; rupee appreciation gains ignored for non resident bond redemptions. The amendment to section 48, effective 1 April 2017, extends indexation benefit to long term capital gains on Sovereign Gold Bonds issued under the Sovereign Gold Bond Scheme, 2015, treating them like capital indexed Government bonds for computation of indexed cost. It further provides that for non residents, any gains due to appreciation of the rupee against a foreign currency on redemption of rupee denominated bonds subscribed by them shall be ignored in computing the full value of consideration.