WE HAVE A CLIENT WHO HAS RECEIVED A SALE CONSIDERATION OF RS 92,00,000 FORM SALE OF A FLAT, THE SALE TOOK PLACE IN JULY,2012. THE PURCHASE PRICE OF THE FLAT WAS 25,00,000 IN YEAR 2003. MY QUESTIONS ARE AS FOLLOWS :
1) AS THE INDEXATION FOR YEAR 2012-13 IS NOT YET ISSUED WHAT INDEXATION SHOULD I TAKE TO CALCULATE CAPITAL GAINS ?
2) HOW MUCH AMOUNT CAN BE REPATRIATE BY A BANK ?
3) THEIR EXIST A DTAA AGREEMENT BETWEEN US AND INDIA AND THE US CITIZEN WANTS TO PAY TAX IN INDIA SO WHAT ARE THE EXEMPTIONS AVAILABLE TO HIM ?
4) WHAT RULES OF FEMA ARE TO BE CONSIDERED IN THIS CASE ?
5) WHAT ARE THE OPTIONS FOR AVOIDING TAX IN INDIA AND USA ?
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