https://www.taxtmi.com/acts?id=3221 Capital gains to a non-resident Indian from transfer of a foreign exchange asset are not charged if the assessee reinvests whole or part of the net consideration in prescribed new assets within the statutory reinvestment period; full or proportionate exemption depends on whether the new asset s cost equals or is less than the net consideration. If the new asset is transferred or converted into money within the prescribed holding period, the previously exempted capital gain is deemed income under the head "Capital gains" in the year of such transfer or conversion. en-us Sat, 19 Jan 2008 22:45:54 +0530 Thu, 19 Jun 2025 14:35:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=3221 Capital gains to a non-resident Indian from transfer of a foreign exchange asset are not charged if the assessee reinvests whole or part of the net consideration in prescribed new assets within the statutory reinvestment period; full or proportionate exemption depends on whether the new asset s cost equals or is less than the net consideration. If the new asset is transferred or converted into money within the prescribed holding period, the previously exempted capital gain is deemed income under the head "Capital gains" in the year of such transfer or conversion. Act-Rules Income Tax Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=3221