In next one week I am going to UK to visit my sister-in-law for holidays. During this time I am planning to buy some shares there (from my brother's company). Before I do that I was wondering if I need to pay any India tax on that. I don’t work In India hence no ITR filled ever, however I have PAN card.
I will not bring that money in India in fact transfer it to my sister-in-law's account. I have no clue about taxes so please be gentle with your response.
thanks
You are talking about the year 13-14.
So first tell me how many days in a year 13-14(i.e April 2013 to March2014) you will have stay in India.
(Let's assume more than 60 days)
Do you on average lives more than 182 days india(Let's assume Yes)
Then you are a resident in India, and the income of dividend from foriegn company is assessable in your hands.
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