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Tax on share sale bought as resident, NRI

Mint Kolkata

|

August 12, 2025

I invested in a friend's private limited company in India in late 2019 while resident there.

- Harshal Bhuta

In early 2022, after moving to Singapore, I bought more shares from a non-resident paying from my Singapore account. I'm selling all the shares to my friend. Will tax treatment differ for the two lots?

—Name withheld on request

As you now reside in Singapore, you likely qualify as a non-resident under both the Income Tax Act and Foreign Exchange Management Act. For capital gains tax, what matters is your residential status at the time of sale, not when the shares were acquired.

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