§212

Section 212 — Interpretation

Income-tax Act, 2025 (amended upto 2026)

In sections 213 to 218,-

(a) "foreign exchange asset" means any specified asset which the assessee has acquired or purchased with, or subscribed to in, convertible foreign exchange;

(b) "investment income" means any income derived from a foreign exchange asset;

(c) "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) "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) "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 private company as defined in the Companies Act, 2013 (18 of 2013); or

(iii) deposits with an Indian company which is not a private company as defined in the Companies Act, 2013 (18 of 2013); or

(iv) any security of the Central Government as defined in section 2(f) of the Government Securities Act, 2006 (38 of 2006); or

(v) such other assets as the Central Government may specify in this behalf by notification.