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Query on tax on capital gains

Thomas Chacko (Accountant) (26 Points)

16 December 2015

Dear Gurus, If an NRI makes a capital gains on sales of his house property in India, is it taxable?? If yes, what is the percentage?? Regards, Tom

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5 Replies

Abhishek Satam (financial execetive ) (86 Points)
Replied 16 December 2015

Yes it is taxable, Rates Depends on the period of holding of assets....i.e short term or long term

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Thomas Chacko (Accountant) (26 Points)
Replied 16 December 2015

Thanks a lot for the clarification

Regards,

Tom

Thomas Chacko (Accountant) (26 Points)
Replied 16 December 2015

Thanks a lot for the clarification

Regards,

Tom

Prateek (Partner) (143 Points)
Replied 16 December 2015

Yes it is a taxable transaction. Rate of tax will depend on the nature of transaction, i.e long term or short term. Rate of tax applicable will be same as applicable to an Indian.

Varun (Article Assistant) (56 Points)
Replied 17 December 2015

Yes capital gain will be taxable in India as the gain is from direct or indirect transfer of asset situated in India. Also the rate of tax will depend on period of holding to decide whether it is an long term or short term. Also no benefit of slab rate will be given to NRI individual if he is treated as Non-resident for income tax purpose if the income is arising only from capital gain.