about loan term capital gain on NRI.....
This query is : Resolved
09 August 2010
whether long term capital gain on sale of equity shares from recognised stock exchange is exempt in the hand of NRI or not???plz explain me???
09 August 2010
Exemption u/s 10(38) can be claimed by NRI also.
09 August 2010
Sec 10(38) is applicable if the following conditions are satisfied-
1. taxpayer is an individual,Huf, Firm or company or any other taxpayer
2. The asset which is transferred is a long term capital asset
3. such asset is equity share in a company or units of equity oriented mutual fund.
4. such transaction takes place on or after 1 oct 2004.
5. At the time of transfer the transaction is chargeable to securities transaction tax.
if the above condition are satisfied, long term capital gain is exempt from tax.
it can be claimed by NRI also.
1. taxpayer is an individual,Huf, Firm or company or any other taxpayer
2. The asset which is transferred is a long term capital asset
3. such asset is equity share in a company or units of equity oriented mutual fund.
4. such transaction takes place on or after 1 oct 2004.
5. At the time of transfer the transaction is chargeable to securities transaction tax.
if the above condition are satisfied, long term capital gain is exempt from tax.
it can be claimed by NRI also.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- F & O PROFIT REPORTING FOR AY 2026-27
- Booth for sales promotion
- Type of Capital Gain
- Rental income of jointly held property
- FEMA regulation Act. for inward remitance
- TDS on Rent received on redevelopment of building
- Tax on Deemed Capital Gain
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
