i recently came with the case. Its as following.
Mr. X is a non resident. He had a job in India. He had a NRE account in india. Later After his work was finished he went back to his native country. While in India, He had bought a property. In which Downpayment and few installment were given and few were remaining. After He went back to his country he still wanted to have that property so he is wondering whether the downpayment is to be give from the NRE account he opened while being in india or from some other means. Will it make any difference in the taxes? And further if he wants to sell the property does the LTCG is same as for resident or it will be different in his case?
CAclubindia
