▪️ Any Long-term capital gain on sale of shares of Indian Companies, listed and unlisted or any government securities will be exempt if the sale consideration is reinvested within 6 months into shares of Indian Companies , Deposits with Indian companies (including Indian Banks) or Government Securities.
▪️ The above relief is available under section 115F of the Income Tax Act (Chapter XII-A).
▪️ The sale consideration can be invested in deposits of top class Indian companies offering an interest above 7% p.a.
▪️ The investment made to claim the deduction has to be held for 3 years.
▪️ If sale consideration is partially invested, proportionate deduction is allowable.
▪️ This provision opens an opportunity for lucrative tax planning for NRI and an attractive investment opportunity simultaneously.
For further details, contact us:
Ashutosh NRI Services
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