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Taxbillity of shares of foreign company listed outside India

This query is : Resolved 
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(Querist)
28 July 2008 A resident Indian is receiving income on sale of shares of a foreign company listed outside India.
Whether such income is taxable as Income from Capital gain or as Income from other sources?
If it is taxable as capital gain whether it is taxable as Long term or Short term gain if the period of holding is two years?
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S.Srinivasaraghavan

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S.Srinivasaraghavan (Expert)
02 August 2008 You have not specified what is the nature of income.
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