Capital gains tax liability
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 August 2014
ONE NRI TRANSFERS SHARES IN INDIAN COMPANY TO ANOTHER NRI, AND SALE PROCEEDS REPATRIATION TO FOREIGN.THE GAIN IS LONGTERM CAPITAL GAIN.WHETHER THE NRI (TRANSFEROR) HAS TO PAY 20%OR 30%.IS IT SUFFICIENT IF HE PAYS 20% OR ADDITIONALLY HAS TO PAY 30% FOR REPATRIATION.
12 August 2014
there is no tax on repartiatation but needs to check if its ltcg or stcg for rate
Nikhil Kaushik
(Expert)
12 August 2014
you should be covered under section 112(c) of the Income-tax Act 1961
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