Capital Gain on shares in Foreign Company
This query is : Resolved
06 July 2011
An assessee had purchased some shares of an American company in USD from NYSE. The same have been sold during AY 2011-12 through NYSE. The assessee is a resident during AY 2011-12. Can he claim the benefit of indexation for the purpose of capital gains?
06 July 2011
Shares in a foreign company is a capital asset and indexation for the purpose of calculating long term Capital Gains is allowed.
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