foreign currency bank accounts capital gains tax

paid in India. Short term capital losses (stcl) can be set off against both long term and short term capital gains (stcg and ltcg). You pay 10 for income up to Rs 5 lacs and 20 on income above Rs 5 lacs (till Rs 10 lacs). One point worth mentioning is that there is an exemption from CGT for foreign currency bank accounts. Hence, your tax liability will be Rs 60,000 (before surcharge and cess). There is no adjustment against basic tax exemption limit and deduction for investment/expenses under Chapter VI-A (Section 80C to 80U).

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Example 3 You made jobs no experience part time work from home long term capital gains (ltcg) of Rs 10 lacs on the sale of equity mutual fund units. Set off/Carry Forward of Capital Losses The rules are same for both residents and non-residents. Specified assets include shares/debentures in an Indian company, deposits with an Indian Company or securities issued by Central Government. On the Journal Transactions page, click the. Such losses, therefore, can be used to set off capital gains in the next 8 years. You can take benefit for investment in PPF for short term gains on equity investments. You record the movement in Wave using the technique described in this article to transfer between accounts in different currencies, using an Undeposited Funds account to make sure each account sees the transaction in its 'natural' currency.