New Delhi, July 1 -- For many non-resident Indians (NRIs), selling Indian investments can trigger long-term capital gains (LTCG) tax. But the new Income Tax Act, 2025 offers a way to defer or even eliminate that tax liability under Section 215, provided strict conditions are met.

The provision, which broadly replaces Section 115F of the Income Tax Act, 1961, allows eligible NRIs to claim an exemption from long-term capital gains tax by reinvesting the sale proceeds into specified Indian assets.

However, the benefit isn't available to every NRI. The exemption applies only if the original investment was made using convertible foreign exchange and the proceeds are reinvested within a prescribed timeline.

According to Pranav Sai S, Tax Exp...