Rupee denominated bond transfers between non-residents are excluded from capital gains treatment, with redemption currency gains ignored. Transfer outside India of rupee denominated bonds issued outside India by an Indian company and made by a non-resident to another non-resident is treated as a non-transfer for capital gains purposes. For a non-resident assessee, any gain arising from appreciation of the rupee against a foreign currency at the time of redemption of such rupee denominated bond is ignored while computing the full value of consideration.
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.
Rupee denominated bond transfers between non-residents are excluded from capital gains treatment, with redemption currency gains ignored.
Transfer outside India of rupee denominated bonds issued outside India by an Indian company and made by a non-resident to another non-resident is treated as a non-transfer for capital gains purposes. For a non-resident assessee, any gain arising from appreciation of the rupee against a foreign currency at the time of redemption of such rupee denominated bond is ignored while computing the full value of consideration.
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