Capital gains on foreign investments
This query is : Resolved
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.
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...
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...
04 November 2012
and i guess for this securities the holding period should b 1 year to qualify for LTCA
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.
16 November 2012
Hi Ashish,
From your query I understand that your client is RNOR and is willing to sell his ESOP's outside India.
If my understanding is correct then there should be no tax liability as for RNOR only income accruing or arising in India shall be taxable.
Anuj
femaquery@gmail.com
From your query I understand that your client is RNOR and is willing to sell his ESOP's outside India.
If my understanding is correct then there should be no tax liability as for RNOR only income accruing or arising in India shall be taxable.
Anuj
femaquery@gmail.com
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?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
