Indexation benefit in the hands of NRI

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Subrahmanyam (Querist)
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02 December 2008 Can the NRI enjoy the benefit of indexation for selling of mutual funds in indian rupees.

Bhaskaran Chackrapani Warrier (Expert)
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02 December 2008 No. pl see 2nd proviso to section 48 and section 115 D(2)(a) of the income tax act, 1961.

Subrahmanyam (Querist)
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02 December 2008 Will it make any difference, if its foreign currency or indian curency. I think the said proviso talks about foreign currency

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