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    <title>Transfer by a non-resident on a recognized stock exchange located in any International Financial Services Centre - (New) Section 70(1)(r) / (Old) Section 47(viiab)</title>
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    <description>Transfer of a capital asset by a non-resident on a recognised stock exchange located in an International Financial Services Centre is treated as not amounting to a transfer for capital gains purposes where the consideration is paid or payable in foreign currency. The rule applies to specified securities, including bonds or Global Depository Receipts, rupee denominated bonds of an Indian company, derivatives, and such other securities as may be notified by the Central Government.</description>
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