Hello,
A person was born in India but since the last 10 years stays abroad in Australia. She is an Indian citizen however is in the process of applying Australian Citizenship. However, according to the period of stay it is not a Indian Resident.
She has some assets in India which she wants to sell/redeem like Shares, Mutual Funds, Provident Funds, Fixed Deposits etc. What is the tax implication? Will she taxed as per Indian Income Tax Act or will she be taxed as per the DTAA between those 2 countries?
Also, once she redeems/sells these, what is the best to send her funds to Australia where she is in need of money?
CAclubindia
