about loan term capital gain on NRI.....
This query is : Resolved
09 August 2010
whether long term capital gain on sale of equity shares from recognised stock exchange is exempt in the hand of NRI or not???plz explain me???
09 August 2010
Exemption u/s 10(38) can be claimed by NRI also.
09 August 2010
Sec 10(38) is applicable if the following conditions are satisfied-
1. taxpayer is an individual,Huf, Firm or company or any other taxpayer
2. The asset which is transferred is a long term capital asset
3. such asset is equity share in a company or units of equity oriented mutual fund.
4. such transaction takes place on or after 1 oct 2004.
5. At the time of transfer the transaction is chargeable to securities transaction tax.
if the above condition are satisfied, long term capital gain is exempt from tax.
it can be claimed by NRI also.
1. taxpayer is an individual,Huf, Firm or company or any other taxpayer
2. The asset which is transferred is a long term capital asset
3. such asset is equity share in a company or units of equity oriented mutual fund.
4. such transaction takes place on or after 1 oct 2004.
5. At the time of transfer the transaction is chargeable to securities transaction tax.
if the above condition are satisfied, long term capital gain is exempt from tax.
it can be claimed by NRI also.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- Quiery in relation to GST liability in case of an advocate who has obtained GST registration.
- Sale of property furniture sale
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- RCM INVOICING FROM NOV-2024
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- TDS under section and rate of TDS
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- GST Regis.
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
Trending Online Classes
CAclubindia
