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Surcharge on LTCG for NRI

16 July 2020

I have a total income of 50,42,597 in which 49,29,693 is my LTCG on property and balance amount is interest on FD. Then how to calculate surcharge on this income incase of NRI. Please help me in this regard and also compute the surcharge amount. It's Urgent.

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5 Replies

Spurto Consultancy Services (Consultant) (1891 Points)
Replied 16 July 2020

You can take the help of this calculator.

https://www.incometaxindia.gov.in/Pages/tools/tax-calculator.aspx

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Prudhvi Reddy (13 Points)
Replied 16 July 2020

But there is no option for LTCG. it's asking only net taxable income

Sarthak Kumar Dash (Student) (232 Points)
Replied 16 July 2020

Long term Capital gain tax- 20%+surcharge 10%+ Cess 4% of Rs. 4792597.00 = 10,96,550.00
Interest on FD of Rs. 1,12,905 (approx) will be calculated as per slab rate i.e no tax liable and balance 1,37,095 is deducted from cap gain amount.
You must have deduct TDS at the time of selling, you can claim that amount.
You can invest the cap gain amount in any residential property or eligible bonds (u/s 54) to claim exemption on such amount.