Schedule-fa-foreign asset disclosure
This query is : Open
01 October 2015
If a person has sold foreign shares and has earned capital gains on the same.
Q1:
Should this be reported under Schedule FA->Details of any other capital asset-> Income derived from the asset.
Q2:
If yes, then will profit as per books will be taken or capital gains as per income tax shall be considered?
Q1:
Should this be reported under Schedule FA->Details of any other capital asset-> Income derived from the asset.
Q2:
If yes, then will profit as per books will be taken or capital gains as per income tax shall be considered?
05 October 2015
Answer to both the questions is yes
08 November 2015
Thanks for answering my first question. However, which profit amount will be considered. book profit or taxable capital gain as per ITR
08 November 2015
Thanks for answering my first question. However, which profit amount will be considered. book profit or taxable capital gain as per ITR
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