How sale of foreign shares is taxed in India

What will be the tax applicability and the conversion rates if an Indian resident sells his shares that are listed on the US stock exchange?

- Parizad Sirwalla

Can the resident gets both conversion and indexation benefit on such a sale?

— Name withheld on request

It is assumed that the person selling the shares qualifies as a Resident and Ordinarily Resident in India.

Any gains or loss arising from transfer of the shares is chargeable to tax as capital gain or capital loss. The taxability would further depend on whether the capital gain or loss is classified as short-term or long-term.