LTCG on property sale for NRI

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1. Can a non-resident taxpayer (Indian citizen, holding Indian passport) choose between 20%  with indexation vs 12.5% without indexation on the LTCG  from the Sale of his property purchased in 2007?
2. Does the provision to carryover capital loss from Sale of property for the next 8 years and adjusting it with capital gain arising from another property within that period still applicable ?

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Quick Summary
This discussion clarifies the Long Term Capital Gains (LTCG) tax implications for Non-Resident Indians (NRIs) selling property. It addresses whether NRIs can opt for the 20% tax with indexation or must pay 12.5% without indexation, noting that indexation benefits are generally for resident individuals and HUFs. The applicability of carrying forward capital losses for up to 8 years to offset gains from other properties is also discussed, with a note that final notifications are pending, especially regarding properties purchased before a specific date.

Got the answer to my query and sadly NRIs cannot claim indexation benefit on property sale and have to pay 12.5% without indexation as this benefit is only for resident individuals and HUFs.

Wait for final notification...

The rule may apply  only to the properties purchased after 23.07.2024. No clarity about property purchased before that!!

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