Urgent capital gain query
This query is : Resolved
05 May 2012
USHA a U.S citizen and a OCI CARD HOLDER.She is having a property (resdential house)in banglore the original agreement for purchase of flat is on 19.3.1996
Now the property is sold for Rs.23,50,000 to be registered in may 2012.
Is she liable to tax in india under captial gains? please suggest and explain.
Now the property is sold for Rs.23,50,000 to be registered in may 2012.
Is she liable to tax in india under captial gains? please suggest and explain.
24 May 2012
Yes the capital gain shall be taxable becuase the property is situated in India and the income accrues in India.
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