Transfer of Funds from NRE Account
This query is : Resolved
22 May 2021
In case of Non resident, wants to buy property in India, while making the payment for the same can he directly pay from his NRE Account or he Should transfer the fund from NRE to NRO Account & then make the payment from NRO Account ? He may sell the property in near future & consideration will come in NRO Account.
From which Account payment should be made for purchase to avoid much tax & any other implication in the year of sale of the same ?
From which Account payment should be made for purchase to avoid much tax & any other implication in the year of sale of the same ?
22 May 2021
Make payment from NRE account so that repatriation problem will not be there when you sell the property.
Tax on sale will be the same nro/ NRE account.
Tax on sale will be the same nro/ NRE account.
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