tax implication on non resident
This query is : Resolved
Ankit khaneja
(Querist)
22 August 2010
i have a question that is long term capital gain to a non resident on sale of shares of an indian company taxable or not?
Aditya Maheshwari
(Expert)
22 August 2010
In case shares sold on exchange then the gain is exempt u/s 10(38).
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Ankit khaneja
(Querist)
22 August 2010
SIR thanx for your reply but I have a problem in solving a question and the details of this is as follows
AN Indian citizen left to USA for the first time and at the time of his departure from India he has taken with him shares of an Indian company and these shares were sold by him to a person in USA,whats the tax implication in this case.
the answer given in the book is Rs 39140 and according to me LTCG on sale of shares of Indian company is exempt
AN Indian citizen left to USA for the first time and at the time of his departure from India he has taken with him shares of an Indian company and these shares were sold by him to a person in USA,whats the tax implication in this case.
the answer given in the book is Rs 39140 and according to me LTCG on sale of shares of Indian company is exempt
Ankit khaneja
(Querist)
22 August 2010
AN Indian citizen left to USA for the first time and at the time of his departure from India he has taken with him shares of an Indian company and these shares were sold by him to a person in USA,whats the tax implication in this case.
the answer given in the book is Rs. 39140 and according to me LTCG on sale of shares of Indian company is exempt
the answer given in the book is Rs. 39140 and according to me LTCG on sale of shares of Indian company is exempt
Aditya Maheshwari
(Expert)
22 August 2010
Shares sold on which STT is paid and sold in exchange is tax free and not sold to other individuals. So if it sold elsewhere the same would be taxable only.
Ankit khaneja
(Querist)
22 August 2010
thanx Sir
Aditya Maheshwari
(Expert)
22 August 2010
U can also thank by using the thank user icon.
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