17 July 2024
Please assist with the below query and in detail if you can:
FY 22-23 (April 01 to 31 March)Indian reporting period for tax purpose my residential status was RNOR
For current filing FY 23-24 my status will be resident ordinary resident.
Since I hold foreign stocks I have to declare them while filing under FA schedule for foreign reporting period 01 Jan to 31 Dec 23(calendar year)
I recieved dividends and sold some shares between Jan 23 to Mar 23 while holding RNOR status. No tax was paid or reported as RNOR is not required to report.
My question is do I need to report the dividend and gross proceeds from sale for the above period while filing FA schedule this month.
If yes, how to claim exemption for dividend and capital gain.