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Income from capital gain

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(Querist)
21 October 2013 WHAT IS THE TAX TREATMENT ON SALE OF PROPERTY IN INDIA BY A NON RESIDENT INDIAN ?
PLEASE GIVE A DETAILED INFORMATION.
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Sanket

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Sanket (Expert)
21 October 2013 NRIs are subject to capital gains tax in India,
similar to what is applied to residents. They can
get long-term capital gains rate for property held
for over 36 months and can claim exemption by
investing in another house property or specified
bonds. Capital gains may also be taxable in the
NRIs country of residence. Relief may be
available in the form of credit for Indian taxes
paid, in case the NRI is a tax resident of a
country with which India has a DTAA.
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