Tax FAQs for NRIs: Schedule AL, India-Germany DTAA decoded
5 months, 3 weeks ago

Tax FAQs for NRIs: Schedule AL, India-Germany DTAA decoded

Live Mint  

As a non-resident Indian with capital gains of around ₹ 1 crore, do I need to file Schedule AL? —Sanjeev Sharma Since you bought listed shares in 2018, under the Indian tax law, they will qualify to become long-term capital assets, and the gains or loss that you will make on their sale would become long-term capital gain/loss. Under the India-Germany DTAA, India has the source taxation rights for taxing capital gains derived from sale of Indian shares. Relief from double taxation article under India-Germany DTAA contains a mix of income exemption method and tax credit method as the methods for relieving double taxation in Germany. For relieving double taxation on capital gains derived from the sale of Indian listed shares, tax credit method applies under DTAA and, thus, you may claim foreign tax credit in Germany against the taxes paid on LTCG in India.

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NRIs are subject to tax deducted at source on capital gains
4 years, 1 month ago

NRIs are subject to tax deducted at source on capital gains

Live Mint  

An Indian resident of foreign origin had two shares that the family did not know of. Capital gains tax shall apply in the case of sale of shares. In the case of inheritance, for the purpose of calculating capital gains, the purchase price paid by the original owner shall be considered for the inheritors. Note that NRIs are subject to …

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