NON-RESIDENT PROPERTY TRANSACTIONS: COMPREHENSIVE TAX GUIDE
Navigate property transactions in India for non-residents with our tax guide. From buying to selling, ensure a smooth journey with expert insights.
Navigate property transactions in India for non-residents with our tax guide. From buying to selling, ensure a smooth journey with expert insights.
The transactions relating to sale and purchase of immovable property by Non-Resident Indian (NRI) is governed by RBI as per the regulations made under the FEMA Act. This article aims at decoding the tax implications for selling and buying of property in India by NRIs.
In case an NRI wants to sell a property situated in India, he is liable to pay tax on the amount of capital gains. The amount of tax payable depends on the type of gain, short-term or long term.
P.S. In case the property is inherited by the NRI, the date and cost of purchase of the original owner is taken into consideration for calculating the period of holding and cost in the hands of the NRI.
Wondering about the laws and regulations regarding purchase of property by an NRI? Here’s everything you need to know. Tax benefits in respect of an NRI buying a property in India is similar to that of a resident individual.
P.S. An NRI can inherit agricultural land, farm house and plantation property from a resident in India and can keep it.
P.S. Payment cannot be made in traveller’s cheques or other country’s currency.
With so many laws and regulations in force, selling and buying properties in India can be a tough task for NRIs. DSRV and Co. LLP, the best tax consultant in Gurgaon, is at your service to ease this process and guide you.
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