Dealing of foreign mutual fund and stock sale

Friends,

1. This is regarding sale of Foreign Mutual Fund and Stocks. I am US Citizen living in India from 2008. I had invested in US Mutual Funds and US Stocks between 2000-2005 and they were sold in Aug 2011.  Can someone please guide me whether these are taxable or not? In which section of ITR form, I will be declaring these?

These shall be taxable as longterm capital gains @ 20%.

2. I was NRI for the period of (1997 to 2008) and I had invested in Indian Mutual Funds. All these were sold in 2011.  Do they need to be treated differently for Tax purposes since I invested as NRI and I am selling this as "Ordinary Resident"?

There is no tax on India Mutual Funds, if they are held for more than 1 year.

Can someone please help with these queries?

 

Sunder

Anuj

femaquery @ gmail.com