How is LTCG calculated for a foreign company
This query is : Resolved
30 October 2020
Q. What would be the taxable value of the following:
1. A foreign company invested in a private indian company(unlisted stock no STT paid)
2. Invested Amount: USD100 (10 shares), conversion rate is INR60 per USD on the date of investment i.e 16th June 2016
3. Sold 5 shares on 1st Jan,2020 for INR80,000 (conversion rate INR70 per USD)
4. Bank charges of USD10 was paid on 1st Jan,2020 while converting INR to USD
1. A foreign company invested in a private indian company(unlisted stock no STT paid)
2. Invested Amount: USD100 (10 shares), conversion rate is INR60 per USD on the date of investment i.e 16th June 2016
3. Sold 5 shares on 1st Jan,2020 for INR80,000 (conversion rate INR70 per USD)
4. Bank charges of USD10 was paid on 1st Jan,2020 while converting INR to USD
30 October 2020
10% capital gains tax payable without indexation by adopting conversion rate of 70 on capital gains calculated in foreign currency.
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