Meenu (student) (175 Points)

16 May 2011  

X a non-resident sells GDR's of reliance ltd. on march 20,2011 at $ 20 pes GDR to Y. another non-residence outside india X had acquired the GDR's Dec, 2004 at $13 per GDR. the gain is however not taxable in india..state the st. whether true/false?

ans:- true, bcoz u/s 47(iii) all condition are fulfgilled

pls tell me wat r the condition in dat clearly..

waiting for reply