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<h1>Capital gains reinvestment relief for non-resident Indians: tax deferred when sale proceeds are reinvested in specified assets promptly.</h1> 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.