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Does grandfathering rule ( Jan.31.2018) apply to foreign shares

Tax queries 859 views 3 replies

Hi All,

 

I would like to know if the grandfathering rule (i.e. profits in equity are grandfathered until Jan.31.2018) applies also to foreign shares held by a resident Indian.

   I am a resident Indian and I bought some foreign shares in 2002. If I sell them now, will I be able to grandfather the profits till Jan.31.2018, or does the rule apply only to Indian equity / mutual funds ?

 

Thanks in Advance..

 

Replies (3)
It does not apply to foreign shares

the long term gain will not enjoy 100000 exemption
further it will attract 20% capital gains tax

Thanks very much for the response. So, can I avail indexation benefit atleast ?

Yes indexation will be available


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