Guys,
Is capital Gains on a property sold in Singapore taxable in India in case of a Resident and not ordinarily resident.
Details
The assessee bought the property in Singaore 3 years back. He came back to India on this April. He was in Singapore for the past 6 years. He has been payin taxes in Singapore for those 6 years. He wants to sell his property over there and buy a property in India.
Is the capital gains of this transaction taxable in India, he is a Resident and not ordinarily resident for the current year?
Is there any provision for these kind of transaction in the Double Taxation Avoidance Agreement between the two countries?
CAclubindia
