Snehal (Learning Tax) (129 Points)
31 August 2011An NRI lady has sold some Mutual Funds, after holding some for more than a year and some for more than 3 years.
Some of the Mutual Funds were close ended and some were open ended.
TDS has been deducted from the proceeds thereof as the status of individual is NRI.
Now my question is that is the proceeds to be included in the GTI
Is it taxable
& how to account the same.
Snehal
(Learning Tax)
(129 Points)
Replied 06 September 2011
An NRI lady has sold some Mutual Funds, after holding some for more than a year and some for more than 3 years.
Some of the Mutual Funds were close ended and some were open ended.
TDS has been deducted from the proceeds thereof as the status of individual is NRI.
Now my question is that is the proceeds to be included in the GTI
Is it taxable
& how to account the same.
CAclubindia
