harpal sidhu (30 Points)
10 February 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 10 February 2021
CA Manivel Manickam
(Chartered Accountant)
(81 Points)
Replied 10 February 2021
Yes, Long Term Capital gain is taxable at 20%. Since he is a NRI, he cannot avail the basic slab exemption benefit of Rs.250000/-. Hence, even though the LTCG is less than Rs.2,50,000 he has to pay tax at 20%. Indexation benefit is available to him, hence he can compute the LTCG by considering Indexed cost of acquisition. (If the transferred asset is shares/Bonds/Debentures, the case is different). If you want to avail exemption from paying tax, you can made investment in certain bonds u/s 54EC etc..
anil jain
(Partner)
(1072 Points)
Replied 12 February 2021
In my opinion basic exemption limit is available to NRI.
Pl check .
anil jain
(Partner)
(1072 Points)
Replied 12 February 2021
In my opinion basic exemption limit is available to NRI.
Pl check .
CAclubindia
