Sir, I have one doubt relating to transfer of shares by NRI
If there is one NRI use his NRO a/c to purchase of shares in India and proceeds of shares also deposited in his NRO A/c I. e. Transfer and acquisition takes place in Indian currency.
Then the first proviso of sec 48 shall apply or not...?
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NRI shares taxation
Replies (3)
Yes. compute capital gains accordingly under section 112
Yes capital gains will be computed
No you can't ,for first provision of section 48 u have to purchase and sell share only in foreign currency
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