https://www.taxtmi.com/acts?id=45847 Provision grants relief of tax on capital gains for nonresident individuals and foreign companies transferring shares of an Indian company who reinvest consideration in an approved investment within two years. The relief is a credit proportionate to the invested amount reduced by the cost of acquisition and applied against the tax on the capital gain. If reinvestment occurs before completion of assessment the credit is adjusted against tax payable on that assessment; if after assessment the credit, on claim, is treated as a deemed refund under the Act. en-us Wed, 04 Dec 2024 16:35:59 +0530 Wed, 04 Dec 2024 16:35:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=45847 Provision grants relief of tax on capital gains for nonresident individuals and foreign companies transferring shares of an Indian company who reinvest consideration in an approved investment within two years. The relief is a credit proportionate to the invested amount reduced by the cost of acquisition and applied against the tax on the capital gain. If reinvestment occurs before completion of assessment the credit is adjusted against tax payable on that assessment; if after assessment the credit, on claim, is treated as a deemed refund under the Act. Act-Rules F. Acts / Amendment Acts Wed, 04 Dec 2024 16:35:59 +0530 https://www.taxtmi.com/acts?id=45847