What are the different taxes on NRI profits?
Short term Capital gain, Long term Capital gain & Speculative Gains Short term capital gain: Any capital gain arising out of sell of shares/debentures held for a period not more than 12 months from the date of its acquisition shall be a short term capital gain. . Short Term Capital Gain (held for less than 12 months) from sale of shares is taxable @ 15% + SC + EC (if STT is paid). Long-term capital gain: Any capital gain arising out of sell of shares/debentures held for more than 12 months from the date of its acquisition shall be a long term capital gain. Presently the long-term capital gain is totally free of any Tax. The period of holding is defined as the period from the date of purchase to the date of sale. Long Term Capital Gain (held for more than 12 months) from Sale of Shares is exempt from Income Tax (if STT is paid). For example if the sale transaction date is 01-01-2005, all those purchases, which are affected up to 01-01-2004, are eligible as long term capital gain tax. Pu
