Sell home in India to fund house purchase in US
This query is : Resolved
Anup Nagpal
(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?
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
Income tax will be applicable.
You need to look matter with professional assisstance
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.
For the purpose of transferring money to US please take advice of appropriate legal/professional person.
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