My client is NRI having Income from capital gain on sale of shares and securities and all are listed, amounting Rs 234000/- no other income is there.
Now the question is, he is entitled to get basic exemption limit and no tax is payable? or taxable without consideraing exemption limit and liable to pay tax on such income?
NRIs do not get the basic exemption slab (like the ₹2,50,000 slab for resident individuals) against capital gains from listed shares. Since the client’s capital gain is ₹234,000 (assuming LTCG on listed shares), it is taxable above ₹1,25,000 at 12.5%.
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