Please Help: TDS rates
Posted Date : 02-Jun-2011 , 08:15:20 pm | Posted By CASANSAAR
What rate of TDS is applicable if an NRI is selling its shares in listed company(short term and long term capital gain)in India????
Category : Income Tax | Answers : 1 | Comments : 1 | Hits : 870
Answers
Answer By: CA. SANAT PYNE
for long term capital gain on listed share :
if stt paid - nil
stt not paid - 10% + surcharge+ cess
for short term:
if stt paid - 15%+ surcharge+ cess
if stt not paid - 30%+ surcharge+ cess
if stt paid - nil
stt not paid - 10% + surcharge+ cess
for short term:
if stt paid - 15%+ surcharge+ cess
if stt not paid - 30%+ surcharge+ cess
Comments
CA. Sachin Data
13-Jun-2011 , 10:18:14 amTDS will be deducted only on those incomes of Non Resident Indians (NRIs) which are liable to tax in India. If the income is tax free in India like long term capital gains from equity shares, there would be no TDS. Another important thing to remember is that you should be an NRI at the time of receiving the income Capital gains on securities - Equity shares Long term capital gains, that is profits made on sale after 1 year from date of purchase, on equity shares are exempt from tax. There will be no TDS applicable. Short term capital gains, that is, profits on sale within one year of date of purchase, will be subject to a TDS of 15 per cent. Long term capital gains will be subject to a TDS of 20 per cent.