Non resident individual income

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dhananjayprasadsingh

dhananjayprasadsingh (Querist)
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23 May 2012 non resident individual long term capital gain is arises. basic exemption not provided wich section

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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24 May 2012 Section 112 of the Income Tax Act deals with taxability of long term capital gain.

Section 112 provides that the unutilised amount of the exemption limit shall be reduced from the LTCG.

This applies only to a RESIDENT.

This benefit is NOT applicable to a non-resident.

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