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Taxation of Capital Gains for Non Resident

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(Querist)
09 July 2008 Dear all,
I want to know whether an individual can invest in property abroad and claim deduction under 54 and 54EC. If yes whether it is available for non resident
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CA SIDDHARTH MEHRA

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CA SIDDHARTH MEHRA (Expert)
09 July 2008 Yes. Sec. 54 / 54EC contemplate exemption for any individual irrespective of his residential status. Moreover, Sec.54 lays no such prerequisite as to the location of the new property. The provisions of DTAA with the concerned nation would, however, have to be considered.
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Vidyasagar

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Vidyasagar (Querist)
10 July 2008 Thanks Mr. Mehra. IF the person has sold the property on 20.3.2008. And not paid any advance tax as on 31.03.2008 Then how much interest is chargeable under 234B or 234C..
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