Dear Sreekanth Ji,
I am NRI and i transferred 10L to my wife account, she invested the same amount in Equity share market. Now, the profit should I add in my ITR part of other sources or against STCG or LTCG? and also should declare the amount every year or in same FY is enough - please advise.
2 Answers
Hi,
Is it a realized profile or unrealized one?
The LTCG on sale of Shares/Equity Funds is tax-free till FY 2017-18. So, you can disclose such income as Exempt income in your ITR.
You need to disclose the Gains in ITR for the relevant Financial year only.
The STCG can be shown under 'Capital Gains' head of your ITR, as taxable income generated by investing gift amount is clubbed to your income.
Suggest you to kindly consult a CA. (Apologies for the late reply, as I had not been in good health for the last one week..)
Kindly read :
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