Capital gains reinvestment relief for non-resident Indians: tax deferred when sale proceeds are reinvested in specified assets promptly. Non resident Indians who reinvest whole or part of the net consideration from a foreign exchange asset into specified assets within the prescribed period can exclude all or a proportion of the long term capital gain from tax, with exemption limited by the cost-to consideration ratio; defined terms for cost and net consideration apply and a recapture rule restores taxability if the new asset is converted to money within the specified post acquisition period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Capital gains reinvestment relief for non-resident Indians: tax deferred when sale proceeds are reinvested in specified assets promptly.
Non resident Indians who reinvest whole or part of the net consideration from a foreign exchange asset into specified assets within the prescribed period can exclude all or a proportion of the long term capital gain from tax, with exemption limited by the cost-to consideration ratio; defined terms for cost and net consideration apply and a recapture rule restores taxability if the new asset is converted to money within the specified post acquisition period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
