Capital gain on foreign shares

Save Share

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

15 July 2013 An Indian resident had purchased some shares in Euro's in foreign market 2 years back. Now he has sold the same shares in Euro's. Guide how to calculate Capital Gain. Kindly mention the sections also

Anil Sankar V

Anil Sankar V (Expert)

15 July 2013 it would be taxable under the head Capital gains.it would be taxable as long term gain..

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2013 I needed the method of computation of capital Gain. As very clearly mentioned in my question I am well aware that it is long term capital gain

Anil Sankar V

Anil Sankar V (Expert)

16 July 2013 no indexation benefit will be available.compute : sale vale of shares and subtract cost of share along with transfer cost.amount will be taxable as Capital gain.

Querist : Anonymous

Querist : Anonymous (Querist)

17 July 2013 The sale & purchase is in Euros. Pls guide accordingly. When to convert & at what rate.Is capital gain to be converted or Sale value and purchase value to be converted seperately & then capital gain calculated

Anil Sankar V

Anil Sankar V (Expert)

18 July 2013 purchase value of shares will be the day of purchase and the same in relation to sale o shares.difference shall be taxable under the head capital gain.as it is foreign transaction advisable to visit CA for better and clear cut advise as lack of details.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now