Dear Friends
The assessee holds shares of a foreign company which are listed in stock exchange outside india.
1. Whether the capital gains arising from sale of such shares is available for set-off and carry forward?
2. In case of Loss, can any other gains from capital asset be adjusted against such loss?
3. Also, suggest whether exemption u/s 54F and 54EC is available in respect of gains arising from sale of such shares with case laws..
Thanks in advance..
can u elaborate the status of ur assesse. Plaese refer the sec.9 "income deemed to accrue or arise in india"
The assessee is a resident individual
whether resident is an ordinarilly resident?
Yes. He is an ordinarily resident
Damu ji loss can be set off or not ,it has to be seen from DTAA.So please refer DTAA of that foreign country with india
CAclubindia
