Interpretation

“foreign exchange asset” means any specified asset which assessee has acquired or purchased with, or subscribed to in, convertible foreign exchange;

“investment income” means any income derived from a exchange asset;

“long-term capital gains” means income chargeable under the “Capital gains” relating to a capital asset, being a foreign exchange which is not a short-term capital asset;

“non-resident Indian” means an individual, who is not a and is— (i) a citizen of India; or (ii) a person of Indian origin;

“specified asset” means any of the following assets:— (i) shares in an Indian company; or (ii) debentures issued by an Indian company which is not a company as defined in the Companies Act, 2013; or (iii) deposits with an Indian company which is not a company as defined in the Companies Act, 2013; or (iv) any security of the Central Government as defined section 2(c) of the Public Debt Act, 1944; or (v) such other assets as the Central Government may specify in behalf by notification.