As capital gain on profit in us securities is taxed at 30% and in India equity it’s 15% , if I have 2 lakh loss in Indian stock exchange and made 3 lakh in meta shares held in Ind money, can I set off 2 lakh against 3 lakh profit and pay 30% on 1 lakh remaining please suggest
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@Shrutika_Shah ,can you please answer this query
Hey @Coin_Mamba,
Foreign shares are taxed at 20% if they are LTCG (holding period > 24 months) and STCG (holding period < 24 months) will be taxed as per the applicable slab rate.
Moreover, for the losses to be set-off, it would depend on whether the gains and losses are long term or short term.
LTCL can be set off against any other LTCG and STCL can be set off against both STCG and LTCG.
Hope this clarifies your query.
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@Shrutika_Shah , in India, we pay STT on short-term transactions, which I didn’t pay in the US. In this case, can I simply set them off against each other? Please clarify
@Surbhi_Pal , Thanks for answering Query, can we also get tax exemption if we purchase property with profits made on Foreign shares sold after 2 years of purchase, similar to indian shares?
Yes, exemption under section 54F can be claimed.
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