Repatriation
This query is : Resolved
09 March 2016
An NRI has invested in residential property(India) in 2009 of Appr Rs 25 Lacs (Appr $50000 ). The investment was made from NRE Account. Now he wants to sell the property and repatriate the sale proceeds to Canada.
Can anybody through light on provisions of IT / FEMA / and RBI regarding
Capital Gain and ratriation restrictions
Can he repatriate the whole proceeds to Canada.
Can anybody through light on provisions of IT / FEMA / and RBI regarding
Capital Gain and ratriation restrictions
Can he repatriate the whole proceeds to Canada.
10 March 2016
1 Work out and pay the capital gains tax as per income tax.
2 As per FEMA regulations you can repartriate up to USD 50000 the amount invested in foreign currency.
2 As per FEMA regulations you can repartriate up to USD 50000 the amount invested in foreign currency.
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