Dear Sir/Madam,
A and B are sisters. They inherit their mother's house property under a Will jointly. A is resident in India. B is a Non Resident. They decided to sell their house property, so B executed a power of attorney in favour of A to sell the house property. A sells the house property. A wants to pay tax on the capital gains of her sister and remit 50% of her share abroad. Since B does not have a PAN, can A club B's share as well in her computation of income and pay tax to the government and the remit 50% of the share to her sister who is in abroad?
What is the maximum amount A can remit to B as per the RBI guidelines? B is in Singapore.
CAclubindia
