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Capital gains investment in foreign country

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(Querist)
26 January 2015 Dear sir
One of my client is selling a landed property in india . He is planning to pay capital gain tax in india . He wish to purchase a villa in his sons name in dubai .can he transfer funds to his son's account .what is the maximum limit . Whether any tax to be paid for the same and what is the procedure for transfer. The amount is 1.5 cr . Kindly advise.what is the income tax section allowing transfer .please help
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
26 January 2015 When capital gains tax is paid in India, then there is no further tax at the time of
transferring the funds to son's account. US$ 125000/- can be transfreed in a financial year. For details pl. refer the link

https://www.rbi.org.in/scripts/FAQView.aspx?Id=66
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