One of the client has sold the property and he is having some cash with him, now he want to give that cash to his daughters who are NRI'S.
What will be the applicability of tax in this case?
Thanks in advance.
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CASH TRANSCATION FROM HOUSE PROPERTY
Replies (6)
Quick Summary
Location of the property?
tax residency of the individual?
tax residency of the individual?
Location of property: Hyderabad
and the person is pensioner staying in Hyderabad
How can he remit cash to NRI. He has to deposit cash in bank and then remit. But how much cash he took, which in any case is not allowed in property sell.
If he is filing ITR regularly then bank transfer is allowed .
You may explain that it was out of past savings
You may explain that it was out of past savings
Long term Capital asset
long term Capital gains
long term Capital gains
It's not about LTCG but about cash in hand
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