non resident

This query is : Resolved

Abhishek r vaishnav (Querist)
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27 May 2009 is basic exemption limit is available for non residents, and setoff of short term capital gains u/s 111a can be allowed against basic exemtion limit for such persons.

CA.Pujah

CA.Pujah (Expert)
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27 May 2009 Basic exemption limit:
limit of Rs 1.5 lacs is available to NRIs. But the provision for differential basic exemption limit in case of woman/ senior citizen is not applicable to NRIs.

Section 111A:
As for that. It is applicable to NRIs to the extent that STCG is taxable @15%, but the relief under proviso to the section 111A is not applicable. the proviso says that taxable income minus STCG if less than basic exemption limit is exempt.