Or / nor / nr
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2017
I left India first time on 23/SEP/2017 175 days for FY2017-18
What will be imapct
1) on ITR FY2017-18 (AY 2018-19)
2) Long term capital gain during FY 2017-18 on sale of equity shares.
Which rule will apply.
Person has stayed in India for 182 days or more during the concerned F.Y.; or Person has stayed for 60 days or more during the concerned F.Y. and a total of 365 days or more during 4 years immediately prior to concerned F.Y.
What will be imapct
1) on ITR FY2017-18 (AY 2018-19)
2) Long term capital gain during FY 2017-18 on sale of equity shares.
Which rule will apply.
Person has stayed in India for 182 days or more during the concerned F.Y.; or Person has stayed for 60 days or more during the concerned F.Y. and a total of 365 days or more during 4 years immediately prior to concerned F.Y.
CA R SEETHARAMAN
(Expert)
07 December 2017
1 You left India for employment the rule
Person has stayed in India for 182 days or more during the concerned F.Y.
Will apply. You will be non resident for fy 2017-18. Your foreign income is not taxable in India.
2 Long term capital gains on shares will be taxable at 20% as you are non resident.
Person has stayed in India for 182 days or more during the concerned F.Y.
Will apply. You will be non resident for fy 2017-18. Your foreign income is not taxable in India.
2 Long term capital gains on shares will be taxable at 20% as you are non resident.
07 December 2017
2. Long term capital gains is exempted as per section 10(38).
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