InvestorQ : what are the tax implications for investment in equities in US through icicidirect portal by resident indians
Saran made post

what are the tax implications for investment in equities in US through icicidirect portal by resident indians

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Archita Jajjoo answered.
3 weeks ago
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I think you are referring to the facility that ICICI Direct offers for investors to take positions in global stocks through the ICICI Direct portal.

You must be clear that any income on foreign assets will not classify as capital gains either short term or long term. It will be treated as other income and taxed at the peak rate of tax applicable to the individual.

Even any distribution received by the investor will be taxed at the rate of your peak rate of tax and it will be taxed at the peak rate chargeable.

Any losses made on such trades can only be written off against gains made on similar trades and not against Indian trades.

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