Capital gain taxable or not

This query is : Resolved

SHREEPAL LALWANI (Querist)
Follow

22 December 2014 Dear Sir,

My one client is Non-Resident. But He holds Proeperty in India since last 60 years. Cost of the property is Rs. 100000/-He sold this Indian property to Resident in India for Rs. 2500000/-. on which long term capital gain is calculated or not? If calculated then what rate of tax is applicable to non-resident? Under which section of income tax? Also inform us indexation benefit is available to non-resident or not for calculation of long term gain? Please inform as early as possible.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

22 December 2014 it is ltcg.

there is no speacial provision for nri in this case and normal provision of capital gain is applicable.

indexation is available since it is long term capital asset.

Rupesh Jain

Rupesh Jain (Expert)
Follow

22 December 2014 CAPITAL GAIN CALCULATE AS PER NORMAL RATE OF TAX .
AND TAKE INDEXATION BENEFIT FOR THAT

SHREEPAL LALWANI

SHREEPAL LALWANI (Querist)
Follow

22 December 2014 SIR,
That means 20% rate of tax applicable as per long term capital gain tax.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
Follow

22 December 2014 the ans is yes........................

CA Kumar Mukesh

CA Kumar Mukesh (Expert)
Follow

22 December 2014 Please also refer the Double taxation avoidance agreement, if any, with the counntry in which Non Resident belongs, there may be lower rate of tax

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now