Get Answers to 3 GST Queries FREE with Expert CA guidance from CAclubindia Pro. Subscribe Now!

NRIs CAPITAL GAINS INCOME.

143 views 1 replies

ARTHI

NIL

293 Points Joined April 2014

Dear Friends / Experts,

Please guide me on the following, IF POSSIBLE:

Query

Whether NRIs are eligible for Income Tax Slab Exemption, if they earn only CAPITAL GAINS INCOME.

Your reply, please..............

*Request for any URL / supporting on the query.

Thanks in advance for possible replies from all concerned.

Replies (1)

Abhishek Ranjan Singh

Managing Director and Founder of ARS Sol

6670 Points Joined November 2008

Yes basic exemption is not allowed to NRI on short term capital gain. but on long term capital gain it is allowed and following deductions are not allowed to NRI:

Investment in PPF are not allowed.
(NRIs are not allowed to open new PPF accounts, however PPF accounts which are opened while they are a Resident are allowed to be maintained.)
Investments in NSCs
Post Office 5 Year Deposit Scheme
Senior Citizen Savings Scheme.

Abhishek Ranjan Singh
ARS Solutions
www.arssolutions.co.in
+919022838615

Note : If you find our reply useful. Please Score us by clicking on "THANK USER"