Can I set off the losses incurred on transfer of foreign listed securities with my other income in India?

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• Can I carry forward the losses incurred from dealing in foreign listed securities under Income Tax Act?

  Yes. The losses arising from the sale of foreign listed securities can be carried forward up to eight consecutive years while losses from speculative business can be carried forward for a period of 4 years. Disclaimer: This article is for ...

• Can I take indexation benefit on transfer of foreign listed securities?

  Indexation is a benefit given to adjust the cost of capital asset held for long term with respect to inflation. Since foreign securities are considered as unlisted, they must be held for at least 24 months to qualify as Long Term Capital Asset and ...

• Do I need to pay tax on foreign dividend both in US and India? Can I claim credit for the taxes paid on such dividend in India?

  Yes, tax needs to be paid on Foreign dividend both in US and India. However, an Indian Resident individual can claim Tax credit of taxes paid in US by virtue of Double Taxation Avoidance Agreement (DTAA) entered into between India and US by filing a ...

• Is there any tax implication on transfer/remittance of funds on the platform for making investment in foreign securities?

  Transfer of funds into an external platform would not result in any profit/gain as it involves only transfer of funds to self. Further no transaction has been undertaken / executed resulting in any transfer of any asset. However, w.e.f. 1st October ...

• Can a Resident Indian utilize more than the amount specified (USD 2,50,000) under LRS for buying foreign listed securities?

  An Individual cannot remit more than USD 2,50,000 in one financial year under LRS scheme. However, if a resident individual investor who is not permanently resident in India after having remitted their entire earnings and salary, wishes to further ...