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Capital Gains on Mutual Funds by Singapore Resident Not Taxable in India: ITAT Mumbai
Case Law Details
- Case Name
- Anushka Sanjay Shah Vs ITO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2022-23
- Courts
- All ITAT, ITAT Mumbai
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CA Ashwin Jain
Anushka Sanjay Shah Vs ITO (ITAT Mumbai)
Taxation of Mutual Fund Gains Under India-Singapore DTAA: In a significant ruling, the Mumbai ITAT held that capital gains earned by a non-resident (Singapore tax resident) from the sale/redemption of mutual fund units in India, when covered under Article 13(5) of the India-Singapore DTAA, are not taxable in India.
Summary: In the case of Anushka Sanjay Shah vs ITO, the ITAT Mumbai addressed the taxability of short-term capital gains arising from the redemption of mutual fund units held by a non-resident Indian taxpayer, who is a tax res...
