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Q: What are the tax implications for an NRI to sell the property in India purchased before 10 years and can we repatriate the entire proceeds of about INR 60 lakhs out of India?

A: Before allowing any remittance to take place from India, the banker (authorised dealer) will need to ensure that the necessary taxes are paid on that amount. For this, the Govt has prescribed Form...

Q: I want to sell a property in India which I jointly own with my mother. I am paying all the mortgage amount as my mother has no incoome. I am an overseas citizen now. I have send my mother with power of attorney signed and sealed by the consulate. Do I have to pay taxes on sale of property, is there any way around it?

A: Yes, you will have to pay tax (short term or long term capital gains tax) on the total profit made by sale of the property. You can avoid this tax only if your current property is a residential...

Q: Can an NRI sell real estate property in India by giving power of attorney for registering the sale deed?

A: Yes you can sell by giving a power of attorney (POA) to your relative but the POA needs to be a registered POA.

Q: Does an OCI/PIO need to be present in India for sale of Property?

A: No, it is not compulsory. The OCI/PIO can give registered Power of Attorney to another Indian citizen who can be present at the time of registering the sale of the property documents at the...