Whether the exemption u/s 10(38) is avaliable if the transaction is undertaken on a stock exchange located in any International Financial Service Centre?

Manual - Exempted Income u/s 10 - Income Specific

Exemption from long term capital gains u/s 10(38) shall be available even if STT is not paid, provided that -

1. transaction is undertaken on a recognised stock exchange located in any International Financial Service Centre, and

2. consideration is paid or payable in foreign currency

Dated: 17-5-2018