Mode of computation Capital Gains u/s 48 - full value of consideration - in case of an assessee being a non-resident, any gains arising on account of appreciation of rupee against a foreign currency at the time of redemption of rupee denominated bond of an Indian company held by him - Budget 2017-18 w.e.f. AY 2018-19
3 February, 2017
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Capital gains computation: rupee appreciation on redemption of rupee bonds held by non-residents excluded from full value. Amendment clarifies that for a non-resident holder of a rupee-denominated bond of an Indian company, any gain arising from appreciation of the rupee ... Summary
Capital gains computation: rupee appreciation on redemption of rupee bonds held by non-residents excluded from full value.
Amendment clarifies that for a non-resident holder of a rupee-denominated bond of an Indian company, any gain arising from appreciation of the rupee against a foreign currency at redemption shall be ignored in computing the full value of consideration for capital gains; the change substitutes "held by" for "subscribed by" and operates prospectively from the notified effective date.
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