Urgent(sale of property by nri)

This query is : Resolved

CA MAYANK SHARMA (Querist)
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20 December 2012 Sir,one of my client is NRI.He bought a property in DLF.Now he wants to sell it.I want to know the whole procedure that how can he do this & take back his investment?I dnt know about the time period of holding property,now!!!!!

Mohit Naithani

Mohit Naithani (Expert)
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20 December 2012 Sale of any property by NRI is taxable as Capital gain in the hand of NRI and calculation is to be made in a currency utilize by him.

Benifit of Indexation is not availabe for NRI.

Calculation of Capital Gain

1.Sale Consideration (Avg Exchange rate on the date of sale) *****

2. Less Exp on Transfer (Avg exchage rate on date of Transfer) *****

3. Less: Cost of Purchase (Avg exchage rate on the date of Purcahse) *****

LTCG /STCG (Buying rate on date of Sale)
*****

Plz mention cost of acqusition and period of holding..

CA MAYANK SHARMA

CA MAYANK SHARMA (Querist)
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21 December 2012 I had asked about the procedure of selling and not tax calculation!!!plz reply if you come to know.