closure of liasion office in india

Dear Sandeep Sir,

Yes Capital Gain will be computed (just confirm it with the relevant DTAA)

Second as to what would be deducted from Sale Price??

Answer will depend upon some facts from the past - 

"Whether Depreciation has been claimed on that Building under Indian Income Tax Act?" {I hope ur case is not covered under presumptive taxation}

If Yes then Sec 50 shall apply & WDV shallbe deducted

& if No then Sec 48 will apply & Cost  or Indexed Cost shall be deducted.

Dear Sir,

U mean the Company was not carrying on any business from that laision office and hence not claimed any Depreciaton & it was an Investment i:e Capital asset -Yes then COA or Indexed Cost will be taken for the purposes of Capital Gain

Regarding approval From RBI - this link may help u

https://www.welcome-nri.com/info/project/aquistionfr.htm