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Sell home in India to fund house purchase in US

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(Querist)
07 May 2009 I am an NRI looking to purchase my primary residence in USA and fund a portion of it thru sale of my property (land) in India. Will the sale of India property be tax exempted ? Also how to go about transfering the money to US, is there a min or max amount restriction?
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Ca Anand Dubey

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Ca Anand Dubey (Expert)
07 May 2009 You can do , subject to FEMA and Income tax regulation.
Income tax will be applicable.
You need to look matter with professional assisstance
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Vipul J. Bhavsar

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Vipul J. Bhavsar (Expert)
07 May 2009 The house which you are planning to sell will be subject to Capital Gains/Loss as per Income Tax.
For the purpose of transferring money to US please take advice of appropriate legal/professional person.
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