04 November 2012
Hi All, Can anyone please let me know whether foreign securities fall within the preview of the Indian Income Tax Act? If yes, than how does one determine whether it is LTCA/STCA? and what would be the tax computation thereof regarding the tax rate and exemption and the indexation benefit? this query is in regard of an indiviual who is RNOR.
04 November 2012
Period of holding is 36 months. (For LTCG) Rest of the provisions are same. You can opt for exemptions. Please narrate exact situation so that answer would be more accurate.
04 November 2012
Dear Amol, the client is RNOR, he works in MNC which has itz subsidary in India. the client had opted for ESOP of the company. now he plans to sell the securities and wants to know the tax liabilty thereof...
06 November 2012
Your guess is correct so far as it relates to "share of a company". If ESOP is for a company as defined under income tax act, 1961, the period is 12 months. Foreign securities are on different footing.
CAclubindia
