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Extension of capital gain exemption to Rupee Denominated Bonds

Extension of capital gain exemption to Rupee Denominated Bonds  :

CLAUSE(S) OF
FINANCE BILL,
2017		 PARTICUL ARS OF AMENDME NTS SECTION AMENDMENT / NEWLY
INSERTED		 APPLICABLE
W.E.F.		 BRIEF OF AMENDMENT
24 Extension of
capital gain
exemption to
Rupee
Denominated
Bonds 		 Sec 47 & 48
clause (viiaa)
in Section 47		 Amended 01.04.18 Any transfer, made outside India, of a capital asset being rupee denominated bond of an Indian company issued outside India, by a non-resident to another non-resident shall not be regarded as transfer.

Gains arising on account of appreciation of rupee against a foreign currency at the time of redemption of rupee denominated bond of an Indian company to secondary holders as well, said appreciation of rupee shall be ignored for the purposes of computation of full value of consideration.
Budget 2017 | Adreeja Kaur |

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