Sales of foriegn shares

Provision in this regard is very clear:-

In case of Resident and ordinarily resident

1. If it is the business of assessee to sale and purchase of share and which is controlled from India, then in that case it will be regarded as Income deemed to accrue or arise in India. Hence, It will be taxable in hand of Resident Indian.
2. But if it is not business of assessee and not controlled by India i.e. person purchasing and selling of shares is nonresident then it will not be taxable.

Provision says under section 9:-

In hand of Resident and ordinarily resident,

Income will not be taxable if it accrues or arises outside India and received outside India during the years proceeding the previous year and remitted to India during the previous year.