POSTED BY March 24, 2014 11:47 am ONE COMMENT
ONSir
Please see my queries wrt tax return . I am working outside India and is an NRI .
I have some losses in share investments through Indian Stock Exchanges . Now the maon question is when I am filing a return , do I need to show
1)my NRI Salary in full and then show it as an exempted income
2)Interest from my NRE A/c in full and then show it as an exempted income
3)Dividend Income in full and then to show it as exempted
4) LTCG and then show it as exempted
OR
I will only show the details regarding the LTCG and the Tax deducted
Please advice
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Dear Suniraj, your global income outside India, Dividend income, NRE interest income, LTCG from stocks sold in exchange with STT paid, all are exempted income. Hence you need to report these in Exempted income only. Regarding loss from shares, if it’s STCL, you can carry forward but in case of LTCL, the same ‘ll be ignored as LTCG is tax free.
Thanks
Ashal