01 July 2009
ACCORDING TO PROVISO TO SEC.48 AND RULE 115A, NON-RESIDENTS ARE LIABLE TO CONVERT THEIR CAPITAL GAINS INTO FREIGN CURRENCY AND THEN BACK AS PER RULES....
BUT IS IT NECESSARY FOR ALL NON - RESIDENTS????.....ACTUALLY ALL TRANSACTIONS ARE DONE THROUGH LOCAL NRE ACCOUNT. SO IS IT NECESSARY TO FOLLOW RULE 115A???
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