Tax on sale of stocks held in a foreign company.
Can someone please clarify the following queries.
My Company has issued few shares of the company. Perquisite tax is payed for these stocks. This company is listed in London Stock Exchange..
Does holding a foreign stock for more than 24 months is considered as long term?
Can I do indexation for these stocks to calculate capital gains?:
If these shares are considered as long term, then can I get exemption on tax payment as per section 54F. Is section 54F applicable for long term foreign company stocks?
Can I decide on "Buying residential house/Construction of house" after opening the capital gain savings account?
Or do I need to declare upfront?
Is it easy for a common man to handle capital gain account scheme, as I read some where I need to get ITO officers approval to close the account.
Thanks in Advance,