Capital gains -tax implications for an nri

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Nithija (Querist)

17 May 2019 If an Assessee is a citizen of USA and a non resident of India and during the year he had sold his property in India and had paid taxes in India for the sale made..Can he claim the taxes paid in India as an Allowance for the tax he should pay in USA... as there is a DTAA between India and USA???

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

17 May 2019 Yes he can claim tax credit for the tax payable in USA.

Nithija

Nithija (Querist)

17 May 2019 Thank you so much sir

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

17 May 2019 WELCOME.......................................

Nithija

Nithija (Querist)

17 May 2019 Sir what do u think is a better option ??? ( in terms of tax savings and earning)
1) Investing the sale proceeds in India
2) Transfer the amount to US bank account and invest there

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

18 May 2019 Being citizen of USA and resident of USA US tax law applicable to you. You can't avail Indian tax benefits.
Earnings will be more in India risk is also more.

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