Could anyone give the tax implications for the following situation:
1. When an NRI sells an immoveable property and there is capital gain on the same under whatv section and
at what rate is the Capital gain taxed. Whether indexation benefits are available for the same.
indexation facility is not available
he'll be taxed at 20%
Please find status as below
Individual NRI – US Citizen
Having following Income from India
1. Long term Capital Gain on sale of property In India
2. Short Tern and Long term Capital Gain on sale of Mutual fund and Stocks
3. Interets on Savinhgs in NRE NRO and Normal Saving accounts in India
Since in US world income will be taxable – please suggest the tax inplications in US return of Income
CAclubindia
