IN COMPUTATION OF LONG TERM CAPITAL GAIN ARISING TO A NON-RESIDENT FROM THE TRANSFER OF SHARES & DEBENTURES (not being foreign exchange assets), THE BENEFIT OF INDEXATION IS NOT AVAILABLE AS PER PROVISION OF SEC 48. AM I CORRECT?
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INDEXATION BENEFIT FOR NRI
Replies (2)
Yeah you r rite...
any capital asset is subjected to indextaion if it is a Long term capital gain.
as u said that the non resident has sold shares which is long term capital gain....as per the IT Act if they are subjected to STT then they are exempted from tax under section 10.
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