What are the tax implications in India for a Non-Resident Indian (NRI) residing in any country other than USA?
The Capital Gains are not liable to tax in India.
Irrespective of the country where the NRI resides,
any income of a non-resident is chargeable to tax
in India only if it is accrued or received in India. As
per ITA, deduction of expenditure or allowances is
not available while computing investment income
or long-term capital gains. Also, indexation benefit
is not available to an NRI while computing LTCG.
For further details, consult a tax expert.
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