Tax on foreign remittance
This query is : Resolved
GAURAV AGGARWAL
(Querist)
19 March 2010
An NRI (Person of Indian origin) Lady sold her house at Chandigarh for Rs.30 lacs and transfer the amount to her NRO account. She wishes to send this money to Canada. Is there any requirement of any Certificate (Income Tax Clearance Certificate. What will be the status of Long Term Capital Gain?
CA. B.SRINIVASULU
(Expert)
19 March 2010
You have to work out the long term capital gain and if any then you have to pay the same as advance tax now. You have to apply to Regional RBI of your jurisdiction to repatriate the same.
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