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Q: How is the rate of capital gain tax computed?

A: Type of asset: Assets like house property, land, and building, jewelry, development rights, etc. Rate of tax deduction at source (TDS) Long term 20.6% Short term 30.9% Exemption available (only...

Q: Do NRIs have to file returns in India for their property rental income and capital gains tax?

A: The Government of India has granted general permission to NRI / PIO / OCI to buy property in India and they do not have to pay any taxes even while acquiring the property in India. However, taxes...

Q: What is the tax treatment for income generated from property selling or renting for NRI?

A: The mere acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (if it is not...

Q: What is the tax treatment for income generated from property selling or renting for NRI/PIO/OCI?

A: The mere acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let...

Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.

A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year The account can be credited with...

Q: How the TDS is deducted and money is transferred to the bank account?

A: For any TDS to be deducted and money to be remitted to a bank account, there are three things which have to be verified. 1. Amount of gain = Selling price – Purchase price 2. Duration of...

Q: What is the tax treatment for income generated from property selling or renting for NRI

A: The mere acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (it is not let...

Q: Does an NRI have to file return in India for their property rental income and capital gain tax?

A: The government of India has granted general permission for NRI/PIO/OCI to buy property in India and they do not have to pay any taxes even while acquiring property in India. However, taxes have to...

Q: What is the tax on income from immovable property selling/renting?

A: If they have held the property for less than or equal to 3 years after taking actual possession then the gains would be short term capital gains, which are to be included in their total income as...

Q: Does capital gain tax (CGT) apply to NRI/PIO/OCI?

A: Yes. Long-term and short-term capital gains are taxable in the hands of non-residents.