Last Updated on: April 3, 2026
Section 212 Income Tax Act 2025
Interpretation* .
212.In sections 213 to 218,—
| (a) |
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“foreign exchange asset” means any specified asset which the assessee has acquired or purchased with, or subscribed to in, convertible foreign exchange; |
| (b) |
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“investment income” means any income derived from a foreign exchange asset; |
| (c) |
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“long-term capital gains” means income chargeable under the head “Capital gains” relating to a capital asset, being a foreign exchange asset which is not a short-term capital asset; |
| (d) |
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“non-resident Indian” means an individual, who is not a resident and is— |
| (i) |
|
a citizen of India; or |
| (ii) |
|
a person of Indian origin; |
| (e) |
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“specified asset” means any of the following assets:— |
| (i) |
|
shares in an Indian company; or |
| (ii) |
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debentures issued by an Indian company which is not a private company as defined in the Companies Act, 2013 (18 of 2013); or |
| (iii) |
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deposits with an Indian company which is not a private company as defined in the Companies Act, 2013 (18 of 2013); or |
| (iv) |
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any security of the Central Government as defined in section 2(f) of the Government Securities Act, 2006 (38 of 2006); or |
| (v) |
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such other assets as the Central Government may specify in this behalf by notification. |
