I used to study in US and worked part time over there between (2005 to 2010). I had invested in few stocks at that time while living there.The few capital gains I made while over there, I had already paid the taxes when filing my US tax return in that period.
2010 I had returned home back to India. Though I have still an Online brokerage account open & running over there with few US stocks. The total value is just $4000. Technically I am running in loss as the initial market value of these stocks in total were around $5000 when I bought them.
I haven't taken out any money till date after returning to India from this account. Recently I had to sell one stock as the firm was going to merge with another company, and with that trade I have made a $400 profit out of that particular stock. Although I have no plans on cashing it, and will probably buy a new stock with that amount.
My question is: do I have to include this when I am filing my Indian Tax return. Or is this only necessary when I choose to transfer this amount to my India account, then only I show it as a Capital gain or income?
Please advice.
CAclubindia
