regarding indexation
This query is : Resolved
06 November 2010
Sir, Is indexation applies to non-resident when he sells a property in India?
07 November 2010
The First Proviso to sec 48 - deals with capital gains from sale of shares by a non resident.Sec 48 read with sec 115AC & 115AD. In my opinion, the non resident should be getting the benefit as it is a sale of property.
07 November 2010
In my openion their is no specific provision in income tax act which prevent to a non resident to take the benefit of indexation in case of selling long term property.
08 November 2010
Under Rule 115A, No indexation benefit shall be given for computation of Capital gains for Non-Residents in case of Transfer of Shares or Debentures of Indian Companies.
08 November 2010
Nagendra pl correct me if my understainding is wrong when a non resident sells the immovable property in India.
If you sale any shares or debentures bonds etc., the provisions are clear that you will not be eligible to get the indexation benefit U/s 115AC & 115AD Also pl note that the non resident should file the return of income in India.
If you sale any shares or debentures bonds etc., the provisions are clear that you will not be eligible to get the indexation benefit U/s 115AC & 115AD Also pl note that the non resident should file the return of income in India.
09 November 2010
Sec. 115AC related to Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
Sec. 115AD related to Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer.
Sec. 115AC related to Tax on income from bonds or Global Depository Receipts purchased in foreign currency or capital gains arising from their transfer
Sec. 115AD related to Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer.
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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- ADVANCE PAYMENT OF ADVOCATE
- Invertaded duty struture
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
