Festive Savings Are Here. Get 10% OFF on All CCI Pro Plans. Subscribe Now!

Quoted/unquoted shares in capital gains section of ITR2

587 views

Save Share

Join Us Follow Us Add as Source

Tax Payer

Tax payer

21 Points Posted on 22 October 2021

Hi,

I am filing capital gains for tax paid from sale of debt mutual funds and foreign stocks listed on Nasdaq.

While filling the section "From sale of assets other than all of the above listed items" in the website, it asks me if my assets include quoted or unquoted shares.

Are "Debt mutual funds" quoted or unquoted?

Are "foreign stocks listed on Nasdaq" quoted or unquoted?

Replies (4)

Quick Summary

This discussion clarifies the classification of debt mutual funds and foreign stocks listed on Nasdaq for capital gains tax purposes within the ITR2 form. The consensus is that both debt mutual funds and foreign stocks, even if listed on exchanges like Nasdaq, are considered unquoted or unlisted assets for the purpose of this specific section of the ITR2. Gains from the sale of foreign equity shares by resident Indians should be reported under the Schedule CG.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121543 Points Posted on 23 October 2021

BOTH ARE UNQUOTED .... I.E. UNLISTED...

sandeepbommisetty

vijayawada

41 Points Posted on 23 July 2023

Do we need to report else where about the sale of foreign equity share

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121543 Points Posted on 23 July 2023

For Resident Indians any gain in the sale of shares is to be reported under schedule CG.

Aashok Kumar Sharma

Finance/Compliance Consultant

73281 Points Posted on 07 November 2026

Foreign-listed shares count as "unlisted" for Indian tax:

• "Listed" in Indian tax law (Sec 2(42A) proviso, 112A) means listed on a recognised stock exchange in India. Shares listed only on NASDAQ are treated as unlisted for Indian purposes.

• Consequences: long-term if held more than 24 months (not 12). LTCG at 12.5% without indexation (transfers after 23 July 2024). No 112A Rs 1.25 lakh exemption. STCG at slab rates (not 111A).

• Debt mutual funds: units bought after 1 April 2023 are always STCG at slab (Sec 50AA). Earlier units are long-term after 24 months, at 12.5% for transfers after 23 July 2024.

• In the ITR, choose "unlisted" / "other assets" for the NASDAQ shares, and report them in Schedule FA too.