yashsr (CA) (2285 Points)
18 June 2012Hello,
A foreign national(British Citizen) wants to invest money(about Rs.20 lacs) in India. What is the best option? Fixed Deposits?
And what are the tax implications? Can it be arranged through NRE/NRO accounts or any other manner so that the income is taxed in UK rather than India?
CA Ganesh Agarwala
(Audit Senior Manager)
(239 Points)
Replied 18 June 2012
dear yashsr,
any individual making a long term(i.e. for more than 12 months) investment in india in equity or equity oriented mutual fund, any capital gain arising on transfer of such capial asset will be exempt from tax and only be subject to STT(i.e. 0.125% of tax)
further he can invest in FCCBS. if he invest in FCCB and transfer such FCCB to a non resident of india then he will not be subject to tax.
cheers
ganesh agarwala
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
