Indexation benefit for USC NRI for indian shares purchased as resident indian

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Raj_India
Posts: 24
Joined: Tue Mar 23, 2010 5:44 pm

Indexation benefit for USC NRI for indian shares purchased as resident indian

Post by Raj_India »

Hello all,
I am trying to get some proper read on indexation benefit for USC NRI for indian shares purchased as resident indian - via non-PINS using INR - not foreign currency. I have few such shares, these are not inherited but I bought it when I was there eons ago. I have not sold those yet due to inertia and later not able to find brokerage who would take USC as a customer. That problem is no longer there. I am still a USC and am looking at selling these. Problem is - I have found very little information on whether indexation benefit is available for NRIs for shares for LTGC (Long Term Cap Gains). I have found various articles stating - NRIs do not get indexation benefits, OR that they get taxed at 20% OR the article does not mention NRIs at all. Again, shares were purchased via INR - so "special provision" does not apply to this situation.

Does anyone know answer to this question then - Does a USC NRI get an indexation benefit for indian shares purchased as resident indian - non-PINS using INR?

Would appreciate some clarity.
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