Can US long term capital losses offset Indian Capital gains?
Posted: Sun Nov 06, 2011 3:15 pm
Dear r2iby2007,
1. Yes ,Long term capital gains of India can be offset against losses from sale in USA, but I don't think you will get any benefit if you are selling shares listed on Indian Stock Exchanges, wherein the Long Term Capital Gains are not taxable.
2. Yes , this transaction needs to be declared in India and US.
Anuj
femaquery[at]gmail.com
1. Yes ,Long term capital gains of India can be offset against losses from sale in USA, but I don't think you will get any benefit if you are selling shares listed on Indian Stock Exchanges, wherein the Long Term Capital Gains are not taxable.
2. Yes , this transaction needs to be declared in India and US.
Anuj
femaquery[at]gmail.com