nri selling property in india to another nri Things To Know Before You Buy
nri selling property in india to another nri Things To Know Before You Buy
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Part 54 (Household Property): NRIs can declare an exemption by reinvesting the gains from a long-term residential property sale into another residential property in India.
Also, the NRI must not have multiple house property (Apart from the new house), nor should the NRI purchase or construct every other residential house within two a long time or a few yrs.
On the sale of immovable property in addition to agricultural land, farmhouse, or plantation property in India by an NRI or PIO, repatriation of sale proceeds outside India is authorized if the following situations are satisfied:
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When you sell property in India, the client is obligated to deduct TDS ahead of spending you the ultimate sum.
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Please Observe that NRIs are permitted to declare exemptions less than Area 54 and Segment 54EC on lengthy-expression capital gains from the sale of house property in India.
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The advantage of this exemption is obtainable when You will find a LTCG about the sale of any funds asset besides a household house property. To assert this exemption, the NRI has got to purchase a person house property in just 1 12 months before or two many years once the date of transfer or assemble just one house property in three a long time once the date of transfer.
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