Capital gain on foreign shares

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Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2013 An Indian resident had purchased some shares in Euro's in foreign market 2 years back. Now he has sold the same shares in Euro's. Guide how to calculate Capital Gain. Kindly mention the sections also

Anil Sankar V

Anil Sankar V (Expert)
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15 July 2013 it would be taxable under the head Capital gains.it would be taxable as long term gain..

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2013 I needed the method of computation of capital Gain. As very clearly mentioned in my question I am well aware that it is long term capital gain

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Anil Sankar V

Anil Sankar V (Expert)
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16 July 2013 no indexation benefit will be available.compute : sale vale of shares and subtract cost of share along with transfer cost.amount will be taxable as Capital gain.

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2013 The sale & purchase is in Euros. Pls guide accordingly. When to convert & at what rate.Is capital gain to be converted or Sale value and purchase value to be converted seperately & then capital gain calculated

Anil Sankar V

Anil Sankar V (Expert)
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18 July 2013 purchase value of shares will be the day of purchase and the same in relation to sale o shares.difference shall be taxable under the head capital gain.as it is foreign transaction advisable to visit CA for better and clear cut advise as lack of details.