Tax on LTCG being only income

 No sir..only a resident can claim the basic exemption against LTCG...

Thanks Hareesh for your reply.

Say my  LTCG is Rs 1,10,000. Can I do savings u/s 80c upto a level of Rs. 1,00,000 and pay taxes on Rs. 10,000 only.

Again, I have no other income and I am an NRI.

No..  assessees cant make investments or claim any deductions U/s 80C to 80U against income from long term capital gain.

no deduction u/s 80c to 80u is availble on LTCG... hence u canot claim that even...

Dear Mr. Ian,

Incase your LTCG is from capital asset other than Residential Property, you can re-invest the sale proceeds (part/full) into residential house property in India subject to certain conditions (Section 54F)

Otherwise you may go for re-investment in Residential properties (Section 54) or Capital Gain exemption bonds (Section 54EC).

Basic exemption limit and Deduction under chapter VI-A are not available to NRI as LTCG shall be taxed at speciall rate of 20% (Section 112)

Regards

Juzer