I understand that foreign shares are considered to be eligible for long term gain when they are held for 2 years. Is this right?
Where capital gain/loss arises from sale of the foreign shares held for more than 2 years which rows of schedule-CG should be used to report such a gain/loss?
This question was answered on another tax related forum as follows:
"Shares in a foreign company would be treated at par with unlisted shares and you will have to pay capital gain (long term or short term) depending on the period of holding. From 1 April 2016, unlisted or foreign shares are treated as long term if held for more than 12 months.
For determining rows to be used, do read detailed instructions given by I-T dept on its website for the ITR form, you are using."
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