๐๐๐๐๐ & ๐๐๐๐ฌ allotted in the ๐๐จ๐ซ๐๐ข๐ ๐ง ๐๐จ๐ฆ๐ฉ๐๐ง๐ฒ (๐ง๐จ๐ญ ๐ฅ๐ข๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ง๐๐ข๐) fall under ๐ฎ๐ง๐ฅ๐ข๐ฌ๐ญ๐๐ ๐ฌ๐ก๐๐ซ๐๐ฌ & ๐ฌ๐๐๐ฎ๐ซ๐ข๐ญ๐ข๐๐ฌ ๐ข๐ง ๐๐ง๐๐ข๐.
๐๐จ๐ง๐ ๐ญ๐๐ซ๐ฆ ๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐๐๐ข๐ง earned on such sale of ๐๐๐๐ฌ & ๐๐๐๐๐ฌ are taxable at the ๐ซ๐๐ญ๐ ๐จ๐ 12.5% ๐ข๐ง ๐๐ง๐๐ข๐ without any indexation benefit. ๐๐ก๐จ๐ซ๐ญ ๐ญ๐๐ซ๐ฆ ๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐ ๐๐ข๐ง shall be taxable at ๐ง๐จ๐ซ๐ฆ๐๐ฅ ๐ซ๐๐ญ๐๐ฌ.
Normally, ๐๐ข๐ฏ๐ข๐๐๐ง๐๐ฌ are also distributed to the ๐๐ฆ๐ฉ๐ฅ๐จ๐ฒ๐๐๐ฌ ๐๐ฒ ๐๐จ๐ซ๐๐ข๐ ๐ง ๐๐๐โ๐ฌ ๐จ๐ง ๐ฒ๐๐๐ซ๐ฅ๐ฒ ๐๐๐ฌ๐ข๐ฌ. It shall be ๐ญ๐๐ฑ๐๐๐ฅ๐ ๐๐ญ ๐ง๐จ๐ซ๐ฆ๐๐ฅ ๐ฌ๐ฅ๐๐ ๐ซ๐๐ญ๐๐ฌ ๐ข๐ง ๐๐ง๐๐ข๐.
Under the following schedules, the above income has to be disclosed:
๐๐๐ก๐๐๐ฎ๐ฅ๐ ๐
๐๐ Since the ๐๐๐ฉ๐ข๐ญ๐๐ฅ ๐๐๐ข๐ง & ๐๐ข๐ฏ๐ข๐๐๐ง๐๐ฌ pertains to foreign shares, it shall be disclosed under this schedule FSI under the head Income from Capital Gain. Further, tax paid outside India shall also be disclosed alongwith tax payable in India if such income has been subject to tax in India.
Usually, on dividends withholding taxes are deducted by foreign MNCs.
Foreign Tax Credit shall be restricted to the lower of:
๐ foreign tax paid, or
๐Indian tax payable on such foreign income.
๐๐๐ก๐๐๐ฎ๐ฅ๐ ๐๐ If any withholding Tax has been deducted by the employer & deposited in the Source country, then tax relief can be claimed in India as โForeign Tax Creditโ.
๐ฐ๐๐๐๐๐๐๐๐: ๐ป๐ ๐๐๐๐๐ ๐ญ๐๐๐๐๐๐ ๐ป๐๐ ๐๐๐๐
๐๐ ๐๐ ๐ฐ๐๐
๐๐, ๐๐ ๐๐ ๐๐๐๐
๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐ญ๐๐๐ 67 ๐๐๐๐๐ ๐๐ ๐๐๐๐๐๐ ๐๐ ๐๐๐๐ ๐ฐ๐๐๐๐๐ ๐ป๐๐ ๐๐๐๐๐๐.
๐๐๐ก๐๐๐ฎ๐ฅ๐ ๐
๐ It includes the details of foreign assets & income derived from sources outside India. ๐๐๐'๐ฌ ๐๐๐๐๐ฌ ๐๐ฅ๐ฅ๐จ๐ญ๐ญ๐๐ ๐๐ฒ ๐ญ๐ก๐ ๐๐จ๐ซ๐๐ข๐ ๐ง ๐๐ฆ๐ฉ๐ฅ๐จ๐ฒ๐๐ซ will need to be disclosed Column A3 which includes foreign equity & debt interest held be the taxpayer in foreign entities.
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