@badri-gopalan , agreeing with the very helpful and step-by-step instructions by @DoninGA , I would only like to a the following because this is a foreign source income:
(a) assuming that you are US citizen/Resident( GreenCard)/Resident for Tax purposes ( work visa), you will have to report the basis of the assets using exchange rate at the time of acquisition -- IRS publishes historical average annual exchange, there are also many site that provide similar data and choose " basis not reported " i.e. your broker did not provide the basis on a form to the IRS
(b) Sales price again is to be converted using then current exchange rate.
(c) many countries ( including India ) collects/withholds tax at source --TDS. You will need to report this for tax credit treatment only after the tax filing in the country ( India ) has been settled or you can file using the withheld amount and then when all is settled , file an amended return to recognize any changes.
(d) note that the US computation of gain and /or capital treatment is per US tax laws and completely independent of gain/Capital gain treatment in that "other" country ( e.g. holding period, indexing of basis etc. etc. ). May I also suggest that you peruse through the US-foreign country ( India ) tax treaty to make sure that you are compliant and get the best tax outcome.
pk
