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CAPITAL GAIINS FOR NON- RESIDENTS

This query is : Resolved 
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(Querist)
01 July 2009 ACCORDING TO PROVISO TO SEC.48 AND RULE 115A, NON-RESIDENTS ARE LIABLE TO CONVERT THEIR CAPITAL GAINS INTO FREIGN CURRENCY AND THEN BACK AS PER RULES....

BUT IS IT NECESSARY FOR ALL NON - RESIDENTS????.....ACTUALLY ALL TRANSACTIONS ARE DONE THROUGH LOCAL NRE ACCOUNT. SO IS IT NECESSARY TO FOLLOW RULE 115A???

CAN SUM1 HELP ME?
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CA.Hanumantha Reddy

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CA.Hanumantha Reddy (Expert)
01 July 2009 You have to follow Rule 115A.Further, will it possible to Credit or Debit in Rs to NRE account
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