Can anybody answer this?

Tax queries 1565 views 12 replies

Sale of shares held in physical form - usa?

Can shares of USA company which are held in physical form be sold?
whether DEMAT has to be done in order to execute the sale?
what are the tax implications of such sale for a person resident in india?
 

Replies (12)

U SEEE DOUBLE TAXTATION TREATY

That is for the taxation part, what about sale of securities in physical form without demat a/c .

I cannot get a clue even after reading sections 90-91

Dear Harry,

 

For sale of Shares held in physcial form, you need to check the legal aspects of USA.

 

For Income Tax purpose, it shall be taxable in India and PRI shall also be eligible to claim DTAA benifit in case taxes are paid/deducted at USA.

 

You may need to check legality of FEMA, whether share holding is as per FEMA or regulations made thereunder.

 

After selling you need to realise the amount of sales proceeds and repatriate it to India with in stipulated time.

 

Thanks

Does India have DTAA with USA? if so, from where can I details of that

Harry,

Please approach Price WaterHouse Auditors for solving your problem. Chartered Accountants will solve yoour issue.

 

Dear Harry,

 

You can find DTTA with US from below link

https://law.incometaxindia.gov.in/TaxmannDit/IntTax/Dtaa.aspx

 

Do ask me if you have any more.

 

Thanks

 

Thankx juzer for your valuable inputs, I think there is no need to contact pwc now.

Originally posted by :harry
"





yes it can be sold



Sale of shares held in physical form - usa?

Can shares of USA company which are held in physical form be sold?

whether DEMAT has to be done in order to execute the sale?

what are the tax implications of such sale for a person resident in india?









 







"

taxability of income depends on whether the assessee is resident or non-resident..!!

Originally posted by :harry
" Thankx juzer for your valuable inputs, I think there is no need to contact pwc now. "


 

Thanks for appriciation.

Dear Harry,

It is your call whether the website link given here provides you all professional support and reply for your cross border related querries. I feel the websites are static in nature .The tax impact at USA should also be understood.

Rgds./Nitesh

 

I have mentioned that the 'person' is a resident in india


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