Taxation of Long Term Capital Gain

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

18 October 2010 Sir,

My client has sold the shares of US company and earned long term capital gain.
He has received the funds in Indian Rupees.
Please advise about the Taxation of the Long Term Capital Gain.

taxindiaconnect

taxindiaconnect (Expert)
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18 October 2010 From your query it seems that your client is tax resident of India and share are not listed in a recognised stock in India. If yes, then calculate the capital gains as per normal procedure and normal rates.

CA. Chikkerur C R

CA. Chikkerur C R (Expert)
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20 October 2010 hi

Since your client is Indian resident. World wide income chargeable. Sale of shares & income from that is capital gain. But time of holding shares determines whether its LTCG /STCG. If its LTCG, then you can calculate gain accordingly. PLease dont forget to give benefit of exemption under 54EC if he wants to invest

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