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Long term capital gain in case of non - resident - Income Tax - Ready Reckoner - Income TaxExtract Long term capital gain in case of non - resident 1. Listed Equity shares sold on stock exchange (whether purchased in Indian currency or foreign currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- N.A. Taxability -- U/s 112A @10% in excess of ₹1,00,000 If the asset is acquired on or before January 31, 2018 , then cost of acquisition shall be: Actual Cost of Acquisition; OR Sale Value or Fair Market Value (lower). whichever is higher. 2. Listed Equity shares sold off market (Purchased in foreign currency or a case of re-investment) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- First Proviso to section 48 available Taxability --- Flat rate of 10% slab of 2,50,000 is not available. 3. Listed Equity Shares sold off-Market (Purchased in Indian Currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 -- Second proviso to section 48 is available Taxability-- 10% without indexation 20% with indexation whichever is lower. Slab of ₹ 2,50,000 not available. 4. Unlisted Equity shares (Whether purchased in foreign currency or Indian currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 -- N.A. (However, if after applying the First Proviso or Second Proviso to Section 48 , as the case may be, there is a loss under the head Capital Gains, then tax shall not be levied.) Taxability--- Flat rate of 10%. Slab of 2,50,000 is not available 5. Unlisted Equity shares sold through public offer and such sale forms part of public offer STT paid by seller and shares subsequently listed (Whether purchased in Indian currency or foreign currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 ---- N.A. Taxability--- Exempt under section 10(38) 6. Unit of Equity Oriented Mutual Funds and units of business trust and on sale STT paid Benefit of First Proviso to Section 48 and Second Proviso to Section 48 ---- N.A. Taxability--- Exempt under section 10(38) 7. Units of Equity Oriented Mutual Fund and units of business trust and on sale no STT is paid Benefit of First Proviso to Section 48 and Second Proviso to Section 48 ---- First proviso is not applicable to units and second proviso available Taxability--- 20% with indexation Slab of 2,50,000 is not available. 8. Units of other Mutual Funds and units of business trust sold by shareholders who were allotted units of business trust in exchange of shares of SPV Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- First proviso is not applicable to units and second proviso available Taxability--- 20% with indexation Slab of 2,50,000 is not available 9. Listed Bonds and Debentures (purchased in foreign currency or a case of reinvestment) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- First proviso to section 48 is applicable Taxability--- Flat rate of 10% Slab of 2,50,000 is not available. 10. Listed Bonds and Debentures (Purchased in Indian Currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- First Proviso and second proviso not available. Taxability--- Flat rate of 10% Slab of 2,50,000 is not available 11. Unlisted Bonds and Debentures (Purchased in foreign currency or in Indian currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- First proviso to section 48 and second proviso to section 48 not available. (However, if these are purchased in foreign currency or in case of re-investment, if after applying the First Proviso to Section 48 , there is a loss under the head Capital Gains, then tax shall not be levied.) Taxability--- Flat rate of 10% Slab of 2,50,000 is not available 12. Other assets (Whether purchased in Indian currency or foreign currency) Benefit of First Proviso to Section 48 and Second Proviso to Section 48 --- Indexation is available Taxability--- 20% Flat rate.
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