NRI shares taxation

Vedangi Deshmukh (112 Points)

23 January 2021  
Sir, I have one doubt relating to transfer of shares by NRI

If there is one NRI use his NRO a/c to purchase of shares in India and proceeds of shares also deposited in his NRO A/c I. e. Transfer and acquisition takes place in Indian currency.

Then the first proviso of sec 48 shall apply or not...?