Cap gains of NRIs on mutual fund units can’t be taxed in India: ITAT
In a major relief for a Non-Resident Indian (NRI) investor, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has ruled that short-term capital gains worth ₹1.35 crore from redeeming mutual fund units are not taxable in India, as per the provisions of the India-Singapore tax treaty.
