Friends,
1. This is regarding sale of Foreign Mutual Fund and Stocks. I am US Citizen living in India from 2008. I had invested in US Mutual Funds and US Stocks between 2000-2005 and they were sold in Aug 2011. Can someone please guide me whether these are taxable or not? In which section of ITR form, I will be declaring these?
2. I was NRI for the period of (1997 to 2008) and I had invested in Indian Mutual Funds. All these were sold in 2011. Do they need to be treated differently for Tax purposes since I invested as NRI and I am selling this as "Ordinary Resident"?
Can someone please help with these queries?
Sunder
CAclubindia
