STCG of NRI
KAMAL KISHORE AGARWAL (Proprietor) (226 Points)
26 June 2019
An NRI has capital gains, whether he will get basic exemption of 2.5lakh ?
KAMAL KISHORE AGARWAL (Proprietor) (226 Points)
26 June 2019
Akhil
(Student CA )
(980 Points)
Replied 26 June 2019
Swati
(Chartered Accountant)
(157 Points)
Replied 26 June 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 26 June 2019
1. Yes, the basic exemption limit will not be allowed to be adjusted against short term capital gains in case of Non-resident. Also, Chapter VI-A deductions will not be allowed against Short term capital gains.
2. Here, non-resident also includes Non-Resident Indian.
Please correct me if the above solution has an alternative view.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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