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of <h1>Computation of capital gains: deduct transfer expenses and acquisition/improvement costs, use indexation and conversion rules for non-residents</h1> Income under 'Capital gains' is computed by deducting from the full consideration transfer-related expenditure and the asset's cost of acquisition and improvements; for indexation purposes 'indexed cost' substitutes those costs. Deductions do not include certain interest claims or securities transaction tax. Amounts received from a business trust that are not taxable reduce the unit's acquisition cost; applicable adjustments apply where transfer rules differ. Specified entities and persons have prescribed additional deductions. For non-residents selling Indian company shares/debentures, acquisition, expenses and consideration are converted into the original foreign currency for computation and reconverted to rupees; rupee appreciation on redemption of rupee bonds is ignored. Cost Inflation Index and related indexation and exchange rates are prescribed.
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