Capital gains -tax implications for an nri


(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 (Expert)


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

Nithija (Querist)
17 May 2019
Thank you so much sir

CA R SEETHARAMAN (Expert)


Click to Talk 17 May 2019
WELCOME.......................................

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 (Expert)


Click to Talk 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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