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October 1, 2020

SPECIAL TAX BENEFIT FOR NON-RESIDENT INDIANS (NRI)

▪️ 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
Mobile: +91 70435 93388 / 70430 88859
Email: nris2@ashutoshfinserv.com / nris1@ashutoshfinserv.com

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