Capital gain & tds provisions on nri
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
27 October 2016
Dear All,
What are the provisions applicable on sale of long term asset by an NRI individual & how TDS refund can be claimed?
What are the provisions applicable on sale of long term asset by an NRI individual & how TDS refund can be claimed?
28 October 2016
Long term CG in case of NRI tds will be deducted@ 20.66% on sale consideration. In order to claim exemption assasee has to invest on property, CG exemption available only one property.
If gain is invested in CG Bond, subject to maximum 50 lakhs locking period of 3 years, if same is shown in tax return if Taxable income is nil or reduced to extent of exemption. Excess tds deducted can be claimed as refund.
If gain is invested in CG Bond, subject to maximum 50 lakhs locking period of 3 years, if same is shown in tax return if Taxable income is nil or reduced to extent of exemption. Excess tds deducted can be claimed as refund.
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