I have been offered some shares of a MNC company as part of my compensation. I sold those shares last year but not remitted any amount in my bank account. It is still sitting IDLE in my DEMAT account in USA.
2 questions,
1) I Do need to show the profits generated while filing ITR even though I have not realized the money in my indian Bank account ?
2) I recently read that one must remit this amount to Indian account within 90 days of sale of shares. I had not done that. If I bring that amount now back to India via wire transfer, do I need to pay any penalty ? Is there any other factor to consider ?
CAclubindia
