Section 47(viiab) - Transfer by a non-resident on a recognized stock exchange located in any International Financial Services Centre - Income Tax - Ready Reckoner - Income Tax

Section 47(viiab) - Transfer by a non-resident on a recognised stock exchange located in any International Financial Services Centre [inserted by FA 2018 , wef 1/4/2019 Section Transaction not regarded as transfer Transferor u/s 2(47) Transferee u/s 2(47) Capital asset involved u/s 2(14) 47(viiab) Transfer made by a non-resident on a recognised stock exchange located in any International Financial Services Centre and where the consideration for such transaction is paid or payable in foreign currency. non-resident on a recognised stock exchange located in any International Financial Services Centre Any person Capital asset being: a) Bonds or GDR referred to in Section 115AC b) Derivative c) RDB of Indian Co. d) Such other securities as may be notified by CG [Notification No : 16/2020]: - Foreign currency denominated bond - Foreign currency denominated equity share of a company - Units of a Mutual Fund - Units of a Business Trust - Units of Alternative Investment Fund - Bullion Depositary Receipt by NR on a Recognised Stock Exchange located in any IFSC where the consideration is paid or payable in foreign currency. Note:- The consideration for such transaction is paid or payable in Foreign currency.