
No stcg tax on US equity if total income doesn't cross 12L?
Hi everyone,
I have just started putting some money in us stocks through Ind money and while researching about the tax implications I found out that for the first 2 years, the gains are taxed at slab rates. So if my total in hand income from salary is say 10L and my US equity profits are 1.5L, do I not pay any tax on these gains since it's tax free till 12L or am I wrong?
Please enlighten me. Thanks.