22 August 2010
SIR thanx for your reply but I have a problem in solving a question and the details of this is as follows
AN Indian citizen left to USA for the first time and at the time of his departure from India he has taken with him shares of an Indian company and these shares were sold by him to a person in USA,whats the tax implication in this case.
the answer given in the book is Rs 39140 and according to me LTCG on sale of shares of Indian company is exempt
22 August 2010
AN Indian citizen left to USA for the first time and at the time of his departure from India he has taken with him shares of an Indian company and these shares were sold by him to a person in USA,whats the tax implication in this case.
the answer given in the book is Rs. 39140 and according to me LTCG on sale of shares of Indian company is exempt
22 August 2010
Shares sold on which STT is paid and sold in exchange is tax free and not sold to other individuals. So if it sold elsewhere the same would be taxable only.
CAclubindia
