One of our client is NRI, PIO and citizen of US. She is selling her shares for sale consideration of 1.5 Crore and the Long term capital gain comes to around 1 crore. Whether TDS is to be done on sale consideration (Rs. 1.5cr) or the LTCG (Rs.1Cr)?
Secondly from the sale proceeds she buys a new House property of Rs. 2.65 crore with help of sale consideration of shares and balance from other funds on account of which the capital gains are fully exempt. Tax payable would be nil. Whether she is liable to pay tax in U.S?
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