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Long term capital gain in case of non -resident

Income Tax - Capital Gains - 28 - 1.Capital Asset- 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- Exempt under section 10(38) 2. Capital Asset- 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- Fist Proviso to section 48 available Taxa .....

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o Section 48 and Second Proviso to Section 48- First Proviso to section 48 and Second proviso to section 48 is not available. (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. Capital Asset- Unlisted Equity shares sold through public offer and such sale forms part of public offer & STT paid by seller a .....

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ess 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. Capital Asset- 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 i .....

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