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Mihir

Mihir Tanna  |1066 Answers  |Ask -

Tax Expert - Answered on Dec 27, 2022

Mihir Ashok Tanna, who works with a well-known chartered accountancy firm in Mumbai, has more than 15 years of experience in direct taxation.
He handles various kinds of matters related to direct tax such as PAN/ TAN application; compliance including ITR, TDS return filing; issuance/ filing of statutory forms like Form 15CB, Form 61A, etc; application u/s 10(46); application for condonation of delay; application for lower/ nil TDS certificate; transfer pricing and study report; advisory/ opinion on direct tax matters; handling various income-tax notices; compounding application on show cause for TDS default; verification of books for TDS/ TCS/ equalisation levy compliance; application for pending income-tax demand and refund; charitable trust taxation and compliance; income-tax scrutiny and CIT(A) for all types of taxpayers including individuals, firms, LLPs, corporates, trusts, non-resident individuals and companies.
He regularly represents clients before the income tax authorities including the commissioner of income tax (appeal).... more
Rajendra Question by Rajendra on Dec 27, 2022Hindi
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As when I bought the shares while I was in US only, USD / INR was around Rs 60 and now it is more than Rs 80. Now I am resident of India for Tax purpose. How the Capital Gain amount will be calculated for tax purpose?

Ans: Capital Gains are chargeable to tax only when the shares are sold. The foreign exchange fluctuations do not give rise to capital gains income. At the time of transfer of shares, capital gain will be calculated in foreign currency and converted into INR as per the rate prevailing on last date of immediately previous month in which shares are transferred.

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
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Ramalingam

Ramalingam Kalirajan  |9699 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Aug 28, 2024

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hello sir, recently i have sold some of my shares and make profit about Rs 40k . plz guide me about my tax implications.
Ans: When you sell shares and make a profit, the tax implications depend on the holding period and the type of capital gain—long-term or short-term. Here's how the tax will be calculated based on your Rs 40,000 profit:

1. Determine the Holding Period:
Short-Term Capital Gains (STCG): If the shares were held for less than 12 months before selling, the profit is considered short-term.
Long-Term Capital Gains (LTCG): If the shares were held for more than 12 months, the profit is considered long-term.
2. Tax on Short-Term Capital Gains (STCG):
Tax Rate: STCG on the sale of shares is taxed at 20% plus applicable surcharge and cess.

Your Situation: If your Rs 40,000 profit is short-term, it will be taxed at 20%.

Example Calculation:

Tax on STCG = 20% of Rs 40,000 = Rs 8,000
Add surcharge and cess as applicable to arrive at the final tax payable.
3. Tax on Long-Term Capital Gains (LTCG):
Exemption Limit: The first Rs 1.25 lakh of LTCG in a financial year is tax-free.

New Rule (12.5% on gains above Rs 1.25 lakh): If your total LTCG exceeds Rs 1.25 lakh, the amount above Rs 1.25 lakh will be taxed at 12.5%.

Your Situation:

If your Rs 40,000 profit is long-term and your total LTCG for the year is within Rs 1.25 lakh, no tax will be due on this profit.
If your total LTCG exceeds Rs 1.25 lakh, then the amount above Rs 1.25 lakh will be taxed at 12.5%.
4. Filing Tax Returns:
Include the Gains: You need to declare these capital gains when filing your income tax return.
Pay the Tax: Ensure that you pay any applicable tax before filing your return to avoid penalties.
Final Insights:
Whether your Rs 40,000 profit is short-term or long-term, understanding the holding period and applying the correct tax rate is essential. If your gains fall under LTCG and your total gains for the year exceed Rs 1.25 lakh, be prepared to pay the 12.5% tax on the excess amount.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

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Career Counsellor - Answered on Jul 11, 2025

Asked by Anonymous - Jul 11, 2025Hindi
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Sir which college is better Presidency University Bengaluru CSE or Reva University Bengaluru CSE
Ans: Presidency University Bengaluru's CSE programme holds NAAC A grade accreditation, UGC recognition, and AICTE approval with an established School of Computer Science and Engineering featuring 48 state-of-the-art computer laboratories, 2,800 computing systems, and Centers of Excellence with industry partners like Capgemini and Tech Mahindra. The university achieved 97% placement consistency across three years, with 1,495 engineering students placed in 2023, an average package of ?5.21 LPA, and highest package of ?13.58 LPA through 550+ recruiters including Microsoft, Amazon, TCS, and Accenture. REVA University's CSE programme boasts NAAC A+ grade accreditation, UGC recognition, and AICTE approval with modern digital classrooms, well-equipped laboratories, and industry-academia collaborations. The university reported 90% placement rates over three years, with 95% CSE students securing roles in top tech firms, an average package of ?5.00 LPA, and highest package reaching ?40 LPA through 453+ recruiters including Wipro, Infosys, Deloitte, and Cognizant. Both institutions feature qualified faculty with PhD holders, modern infrastructure, industry partnerships, and active placement cells supporting student career development.

Recommendation: Choosing REVA University CSE over Presidency University CSE is advisable due to its superior NAAC A+ accreditation, higher placement rates for CSE-specific students, broader industry collaboration network, and stronger research infrastructure with specialized centers of excellence supporting cutting-edge technology development. All the BEST for Admission & a Prosperous Future!

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which Private institute offers best mathematical computation course ?
Ans: Rakesh, Ashoka University’s BSc in Mathematics & Computing delivers a research-oriented curriculum, eminent faculty, and interdisciplinary projects with international collaborations; Azim Premji University combines rigorous theory, logical reasoning workshops, and strong placement support in data-driven roles; Amity University Pune offers NAAC A++ accreditation, advanced computing labs, and 90% placement consistency through its corporate partnerships; Sharda School of Engineering & Technology’s BSc in Computational Mathematics & Statistics features modern software-enabled labs and a dedicated placement cell; RUAS Bangalore’s BTech in Mathematics & Computing provides NABL-accredited labs, global exchange programmes, and robust industry tie-ups; Usha Martin University blends mathematical modelling with computing applications via its applied research centre; Jain University Bangalore’s tri-disciplinary BSc integrates mathematics, physics, and computer science with IBM certifications; Lovely Professional University’s Mathematics & Computing honours includes hands-on analytics labs and academic-industry internships.

Recommendation: Considering the blend of research focus, curricular depth, lab infrastructure, and placement outcomes, the recommendation is to choose Ashoka University’s Mathematics & Computing program for its premier faculty, strong academic-research linkages, and emerging placement track record. All the BEST for Admission & a Prosperous Future!

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