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 ?
4 Replies
Akhil
(Student CA )
(1005 Points)
Replied 26 June 2019
i think unexhausted b.e.l is not applicable for nom resident ....ao flat 20%+ec is tax rate....for ltcg
Swati
(Chartered Accountant)
(157 Points)
Replied 26 June 2019
No Basic Exemption out of Capital Gains to a NRI.
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.
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