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Foriegn shares sold

Tax queries 489 views 1 replies

 

hi,
Query is regarding whether the shares sold in Foreign countries have any effect on income of the assessee if the same assessee is an indian resident,but the assessee has transfered the same money to india after selling the shares so at a conversion rate........What the taxability feature for the assessee?
Replies (1)

I think, profit on transfer of shares in foreign currency would be taxable at the conversion rate on the date of sale and not the date of remittance.

Further any differecnce in the exchange rate between the date of sale and date of remittace would be charge to Income from other sources or PGBP as the case may be. 


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