Taxtation of nri
This query is : Resolved
16 August 2013
My Client has Income from Sale of securities listed on new work stock exchange. she was NRI having NR/OR status at the time of purchase of the stock. It was sold during current year when she is resident.what is tax implication of the above transaction.
16 August 2013
since she is Resident in the year when the shares are sold. Tax is payable by her in restpect of such share.
Check provision of DTAA if there is relief if any on tax paid on USA
Check provision of DTAA if there is relief if any on tax paid on USA
16 August 2013
Capital gain will be sale price - purchase price. If the shares are held for > 1 year then it should be considered as long term capital gain & you can claim indexation benefit. Please note that exemption u/s 10(38) will not be available since the transaction is not charged with STT.
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