Hi,
Have a question. This is the scenario.
Scenario: Have property that I gain from my mom ( about say 80 lakhs). After her death, i inherit the property as she has written her will in my name.
I sell the property for say 80 lakhs (in India) and later would like to invest that money in a foreign country ( say USA). Indian govt. currently allows investing upto $200,000 USD a year outside India.
Question: In the above scenario, can I avoid paying income tax on Capital gains from the 80 lakhs worth property sold in India ?
Sudhakar