Repatriation of sale proceeds by nri
The repatraition of sale proceeds of immovable property by Non-Resident India is limited upto 2 Properties. Whether this limit is for 1 Financial year or for lifetime?
Replies (3)
Incase of residential property, unrestricted repatriation of principal is allowed only for first 2 properties purchased and sold by an NRI in his lifetime. From the 3rd property onwards, the principal portion has to be deposited in an NRO account from which a maximum of USD 1 Million (approx Rs.5 crores) can be repatriated per financial year per person.
As per your reply, from the 3rd property onwards, the Principal portion has to be deposited in an NRO account.
If only Principal portion has to be deposited. then what about Capital Gain portion?
Principal Word Is Use For Sale Proceeds So It Means Total Sale Consideration
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