Urgent(sale of property by nri)
This query is : Resolved
20 December 2012
Sir,one of my client is NRI.He bought a property in DLF.Now he wants to sell it.I want to know the whole procedure that how can he do this & take back his investment?I dnt know about the time period of holding property,now!!!!!
20 December 2012
Sale of any property by NRI is taxable as Capital gain in the hand of NRI and calculation is to be made in a currency utilize by him.
Benifit of Indexation is not availabe for NRI.
Calculation of Capital Gain
1.Sale Consideration (Avg Exchange rate on the date of sale) *****
2. Less Exp on Transfer (Avg exchage rate on date of Transfer) *****
3. Less: Cost of Purchase (Avg exchage rate on the date of Purcahse) *****
LTCG /STCG (Buying rate on date of Sale)
*****
Plz mention cost of acqusition and period of holding..
Benifit of Indexation is not availabe for NRI.
Calculation of Capital Gain
1.Sale Consideration (Avg Exchange rate on the date of sale) *****
2. Less Exp on Transfer (Avg exchage rate on date of Transfer) *****
3. Less: Cost of Purchase (Avg exchage rate on the date of Purcahse) *****
LTCG /STCG (Buying rate on date of Sale)
*****
Plz mention cost of acqusition and period of holding..
21 December 2012
I had asked about the procedure of selling and not tax calculation!!!plz reply if you come to know.
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