Foriegn shares sold
kunalturakhia@hotmail.com (kunalturakhia@hotmail.com) (55 Points)
05 January 2012kunalturakhia@hotmail.com (kunalturakhia@hotmail.com) (55 Points)
05 January 2012
Murli Manohar Agarwal
(Self Employed)
(36 Points)
Replied 05 January 2012
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.