Exploring Tax Rules: Non-Resident Long-Term Capital Gains on Financial Assets Under Various Conditions and Section 48 Provisos

The tax implications for long-term capital gains for non-residents on various financial assets. For listed equity shares sold on the stock exchange, a 10% tax applies on gains exceeding 1,00,000, without the benefit of Section 48 provisos. Off-market sales of listed shares have different tax treatments based on the currency of purchase. Unlisted equity shares and bonds generally incur a flat 10% tax rate, with certain exemptions and conditions. Units of mutual funds and business trusts have specific tax rates and exemptions, depending on whether Securities Transaction Tax (STT) is paid. Other assets are taxed at a 20% rate with indexation benefits.