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STCG of NRI

336 views 4 replies

KAMAL KISHORE AGARWAL

Proprietor

226 Points Joined June 2017

An NRI has capital gains, whether he will get basic exemption of 2.5lakh ?

Replies (4)

Akhil

Student CA

1005 Points Joined July 2013

i think unexhausted b.e.l is not applicable for nom resident ....ao flat 20%+ec is tax rate....for ltcg

Swati

Chartered Accountant

157 Points Joined July 2015

No Basic Exemption out of Capital Gains to a NRI.

1. Yes, the basic exemption limit will not be allowed to be adjusted against short term capital gains in case of Non-resident. Also, Chapter VI-A deductions will not be allowed against Short term capital gains.
2. Here, non-resident also includes Non-Resident Indian.
Please correct me if the above solution has an alternative view.