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(Querist)
03 March 2009 ram nayakh as accured U.S. citizenship. he has house property, urben land,lented buildings in india. he want to dispose them .wil it atracts IT?
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CA LOKESH KASAT, FCA, M.Com

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CA LOKESH KASAT, FCA, M.Com (Expert)
03 March 2009 yes, It will attract Capital Gain, depending on holding period i.e Long Term or Short Term, and if falls under the provision on 115E than LTCG will be chargeable at 10%.
Capital Gain is to be computed as provided from Sec 45 to 55.
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CA Devanshi Gandhi (Ajani)

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CA Devanshi Gandhi (Ajani) (Expert)
03 March 2009 i support Mr. Lokesh
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