Menu
Surcharge on LTCG for NRI
I have a total income of 50,42,597 in which 49,29,693 is my LTCG on property and balance amount is interest on FD. Then how to calculate surcharge on this income incase of NRI. Please help me in this regard and also compute the surcharge amount. It's Urgent.
Replies (5)
Quick Summary
You can take the help of this calculator.
https://www.incometaxindia.gov.in/Pages/tools/tax-calculator.aspx
But there is no option for LTCG. it's asking only net taxable income
Long term Capital gain tax- 20%+surcharge 10%+ Cess 4% of Rs. 4792597.00 = 10,96,550.00
Interest on FD of Rs. 1,12,905 (approx) will be calculated as per slab rate i.e no tax liable and balance 1,37,095 is deducted from cap gain amount.
You must have deduct TDS at the time of selling, you can claim that amount.
You can invest the cap gain amount in any residential property or eligible bonds (u/s 54) to claim exemption on such amount.
Interest on FD of Rs. 1,12,905 (approx) will be calculated as per slab rate i.e no tax liable and balance 1,37,095 is deducted from cap gain amount.
You must have deduct TDS at the time of selling, you can claim that amount.
You can invest the cap gain amount in any residential property or eligible bonds (u/s 54) to claim exemption on such amount.
But the status is nri, so we can't deduct 1,37,905 from cg
I see
Recent Topics :
- LTCG: Home Loan Principal Repayment?
- Ims action relationship query
- GIFT REGARDING
- TDS on salary to non resident managing director
- Ewaybill and Transport documents (Lorry receipt)
- LTCG on sale of Builder Buyer Agreement
- Rule 13(2)(h) and valuation of CCDs
- Leave encashment, New labour code, Management cadr
- GST clarification needed:
- TDS processed with short deduction default
Related Topics :
CAclubindia
