NRI Repatriation of property


I had purchased a two apartments in India a few years ago using funds earned abroad under my parent name. At that point i was living in Canada.

Later the apartments were transferred to me a few years ago by the parent as settlement. 

Once again I transferred the same apartments back to my parent as gift.  Now the apartments are being sold by my parent, and they want to send me this amount. But currently I am residing in Australia.

Is repatriation possible in such a scenario? If so, what is procedure for repatriating the funds back to a different country? If repatriation is not possible then what are the tax implications?

I thank in advance for your kind response.

Replies (1)

Capital gain tax liability will arise on owner (your parents).

The can gift you the amount (after paying tax as per filed ITR) under LTS scheme.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
23 July 2026
CA Inter

Vikram Jadhav and Company

Pune

CA Inter

View Details
Company
Featured 18 July 2026
Senior Manager- Finance & Accounts

apricus india

Ahmedabad

CA

View Details
Company
13 July 2026
AVP / VP - PCG Advisory

Workforce Connect

Mumbai

MBA

View Details
Company
ARTICLESHIP 28 July 2026
Article/Intern/Semi-Qualified/Fresher B.Com

VNSS & Co

Mumbai

Others

View Details
Company
14 July 2026
Senior Executive/ Manager

H S SHARMA AND CO

Pune

CA Final

View Details
Company
ARTICLESHIP 17 July 2026
Article Assistant and B.com pass

BANSAL YOGESH AND CO

Gautam Budh Nagar

B.Com

View Details
Company
ARTICLESHIP 16 July 2026
CA Article

Pipara & Co. LLP.

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 16 July 2026
Article Assistant

G A R U D & Associates

New Delhi

CA Inter

View Details
Follow