Hi all,
My flat was allocated to me in Gurgaon, in June 2009.
I am now looking to sell it. In the meantime, I moved out of India and I am NRI now.
I am trying to understand the taxes that will be applicable in case of NRI selling the property. I am now aware of TDS (around 22% which is calculated on capital gain) that would need to be deducted by buyer while making the payment and also aware that I can get a tax certificate in case I feel the tax deductions should be lower.
My questions is, is TDS the only tax I need to account for or Do I need to pay capital gain tax as well on top of TDS?
Cheers!
G
CAclubindia
