Clarification on sale of property by nri in india and does he need to application for pan here?

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

23 November 2015 Respected sir,
I have a client who is from Canada and now he wants to sell his property which he owned in 1999. So, I would like to know your valuable suggestions in this regard how exactly we need to follow and do the needful as per the laws.

2. Does NRI is required to apply for PAN CARD HERE ?
Kindly respond me. Awaiting for your reply. Thank you.

Regards
HARI PRASAD.J

Amol S Joglekar

Amol S Joglekar (Expert)
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23 November 2015 01. Better if he applies for the PAN.

02. The capital gain is taxable in India. He has the choice to opt for inidexation or he can waive the same by opting

https://blog.cleartax.in/tax-implications-nris-want-sell-property-india/

https://www.moneycontrol.com/news/real-estate/find-out-legal-aspects-for-nris-selling-propertyindia_934794.html#anchore_top_strip

https://www.onlinesbi.com/nri/sbinri_faq_tax.html

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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23 November 2015 1 The buyer of the property has to deduct full tax and pay to Govt. So help the buyer of the property calculate capital gain and deduct and pay taxes.
2 Yes NRI to apply PAN card here.

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