Capital Gains - transfer made outside India of a capital asset being rupee denominated bond of Indian company issued outside India, by a non-resident to another non-resident shall not be regarded as transfer - Budget 2017-18 w.e.f. AY 2018-19

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..... THE FINANCE BILL, 2017 Clause 23 of the Bill seeks to amend section 47 of the Income-tax Act relating to transactions not regarded as transfer. The said section provides that certain transfers of capital assets are not chargeable to tax under section 45 of the Act . Further, under the existing provisions of clause (x) of the said section, any transfer by way of conversion of .....

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