My brother in law is currently residing in the US and has a property in Bangalore (registered in 2008) which he wishes to sell .
We Had the following questions :
1) Can we reduce the TDS on sale of property by NRI by getting a "Lower tax rate " certificate from an IT officer . Do you help with this?
2) What is the optimal way to sell property , i have heard cases where people gift to their relative in India conduct the sale and then the relative gifts back the sale consideration. Is there a better method?
3) Prima facie , we do not expect a gain on this property (We expect a long term capital loss) . Can this Long term capital loss be used to set off other income in India ?
4) Do we need to get an international PAN (or do we need to make any changes to the PAN of the seller) ? to conduct the sale .
Please advise and than you very much in advance
CAclubindia
