https://www.taxtmi.com/circulars?id=10400 Concessional tax on long-term capital gains applies to transfers of shares purchased in foreign currency, while short-term gains are excluded from this treatment. Reports indicate remittances of sale consideration were at times allowed without deduction of tax on capital gains after assessees claimed losses. Assessing officers must exercise due care, verify claims, and ensure proper tax deduction before issuing No Objection Certificates for remittance of sale consideration of such shares. en-us Tue, 05 Oct 1993 00:00:00 +0530 Mon, 13 Jun 2011 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10400 Concessional tax on long-term capital gains applies to transfers of shares purchased in foreign currency, while short-term gains are excluded from this treatment. Reports indicate remittances of sale consideration were at times allowed without deduction of tax on capital gains after assessees claimed losses. Assessing officers must exercise due care, verify claims, and ensure proper tax deduction before issuing No Objection Certificates for remittance of sale consideration of such shares. Circulars Income Tax Tue, 05 Oct 1993 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10400