Nri income tax

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 January 2012 Can someone provide more insight on how capital gain is treated for NRIs from taxation perspective. How much tax NRI need to pay on STCG & LTCG if STT is paid?

RAMESH KUMAR VERMA

RAMESH KUMAR VERMA (Expert)
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01 February 2012 he benefit of concessional tax treatment under chapter XIIA continues even after NRI becomes a resident. However he has to file a declaration in writing to the assessing officer along with the return of income u/s. 139. The option having been once exercised is irrevocable, and the provisions of the Chapter will continue to apply till the transfer or conversion into money of the said assets. It is pertinent to note that the benefits are not available for long-term capital gain after the non-resident Indian becomes a resident.

read the link:

http://www.nritaxservices.com/tax_cptl.htm

http://www.dspblackrock.com/investor-centre/nri/taxation-and-related-queries.aspx