ITR-2 NRI Tax Filing

Income Tax
1

For Capital Gain details ( Mutual Funds Redemption) - NRIs in the ITR-2 where should be filled. Schedule 112A or Schedule 115AD(1) (iii). Both are same but in 115AD it is mentioned for Non-Residents. Kindly advice

2

For Capital Gain details ( Mutual Funds Redemption) - NRIs in the ITR-2 where should be filled. Schedule 112A or Schedule 115AD(1) (iii). Both are same but in 115AD it is mentioned for Non-Residents. Kindly advice

3

Hi @Srikanth ,

Section 112A provides for taxability of long term capital gains arising from the transfer of capital asset being an equity share in a company or a unit of an equity oriented fund or a unit of a business trust whereas section 115AD deals with Tax on income of Foreign Institutional Investors from securities or capital gains arising from their transfer. The purview of both the sections is different.

Thus, in your case the taxability shall be governed by section 112A. Hope this of help!

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4

Thanks a lot sir. Much appreciated.

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5

Hi @Srikanth

The correct section for NRIs is 115E and not the 115AD mentioned in your post.

My advice would be if you are NRI then you can apply Section 115E for the purpose of income taxes.

Also these series sections for NRIs comes with the rider and conditions attached to it.

For further discussion you can connect with me on WhatsApp 9999616874.

Thank You

6

Thank you very much sir

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