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QUESTION DETAIL
Related User
Votes
For the past three to four years, I have held a significant amount of foreign currency in India. If over this time period the currency appreciates several times and I exchanged it for Indian Rupees, do I have to pay tax on the profit? I live half the yea
ANSWER
The BIDaWIZ Team's Answer:
The investment qulaifies as a capital asset. Thus, the appreciation
is not subject to taxation, until the capital asset is liquidated.
