ERRATA : With respect to minor mistakes that have happened by slip of the tongue, please read below correct information to following time sections 1. Time Stamp 7.24 to 7.47 - Please read it as "Base Year Is 01.04.2001"( instead as 01.04.2000) - 2. Time Stamp 18.02 to 18.24 - Read It As "The number of properties ( two ) restriction is u/s 54F ( instead of section 54 ) 3. Time Stamp 8.22 to 9.20, 12.49 to 13.01 & 14.44 to 16.30 - Read it as " The RBI Circular 8/2015-16 allows repatriation upto $ 1 Million for sale of properties which are from NRO funds or inherited properties ' DISCLAIMER : The Opinion expressed in the video or replies to the comments is only for information sake and viewers should seek professional advice before taking any decision "
Sir..what was not clarified was after filing taxes in india does one need to file again in US or abroad. Say one bought prioerty for 30L sold for 50L as per indexation 30L becomes 48L so capital gain is 2L and one pays tax on 2L gain. Does one need to pay 30% in US/abroad on 50L-30L as indexation does not happen in US.
@@AK-gr9qk you corectly asked the question. The expatriated money will be considered as income at other residing country? If we already payvthe CGT it should be treated as clear funds! Too much of complexities
Thanks for this correction about time stamp. Another confusion, that I noticed. At time stamp 2:30 Mr Mehta says, “the tax rates can be very high depending on value of your property”. I think, what he means is, it depends on amount of capital gain, (not on value of your property).
Dr. Chandrakanta Bhat, what a great service you are giving to people like us, elderly parents with children overseas. Very clear and lucid....you have made it so understandable. In today’s world of money for everything, where people don’t tell you even the time of the day free, you are sharing such valuable professional knowledge, for free. Thank you Sirs.
Thankyou very much Sir for such clarity on this topic. I have a question, we live in SAUDI and we bought a plot in india by paying the money in SAR tour freind and he in turn paid to the person concerned and we were given the plot documents on our name in 2006. However, we do not have any bank records or payment details for this particular property except the ORIGINAL AGREEMENT ON OUR NAMES. SOincase we have to sell the property tomorrow how do we go about it ? Please advice.
Ditto...regret investing in India..starting from the chaprasi to the top most officer they are all super theives..all are after money . NEVER invest in India
In many years, first time I got a clear picture of the amount of steps I need to go through before and after selling property. Thank you very much to Dr Bhatt and Mr. Desai.
As USA citizen I am canceling my plan to invest in India . Was dreaming of beautiful bungalow. This talk showed how much headaches I will have in future. I don’t want headaches when I am old. After watching half video only I got scared 😱 to hell
Good decision. I am selling a property. Shocked to learn that income tax refund will take 2 years! Compare this with 5-10 working days in the US. And they say India has progressed and is investor friendly!
No point keeping property in India nowadays. Kids born abroad to Indian parents not interested in property or even visiting. Best to sell and use the money to buy home for kids and visit India for vacation
Thank for providing such an important information. My advice is based on my personal experience: 1. Buy the property when it is ready to be delivered. 2. Ensure that Authorities are in the process of registering such properties and will accept the POA in case required.3.There must be a very trusted person who can follow-up procedures on your behalf, or you have a lot of time to be present in India, 5. Please note that if the property is vacant, it can be occupied by someone; Any legal action may take many years to conclude, not necessarily in your favour. I hope the government makes new laws for NRIs and PIOs to buy and sell properties in India. Legal actions must be settled on priority basis for those living abroad.
Ranjit..good advice..this video gives theoretical perspective,it does not mention about typical …baboo Jee..fees n bribes to keep your case active n other official corruptive practices. ..unfortunately..it is sickening n time wasting process ..in big transactions CAs n officials associated official might ask their bigger share under the table..so be careful..just save your hard earned nickels n dimes overseas.. n..live happily ever after..
Very good explanation and interview. My MIL is an Indian citizen with a green card, I'm a U.S. citizen with an OCI card. She wants me to visit India and handle her property matters since she cannot travel. This program gives us a very good idea of what we need to do and look at.
If you (NRI)are selling inherited property, you can repatriate full amount.You have to show the deceased was assessed to tax, had paid taxes, you inherited it by a Wii.You have to get probate from the court , submit it to your bank and the bank will remit it to foreign bank.In my case it was city bank at both places.The bank had concerted the amount from NRO to NRE and then remitted it.This happened some 5 yrs ago so I have forgotten exact details.
Is that india Government is very poor to make money of 30% and/or 20% plus surcharge of 20% minimum from NRI selling property? This tax rate is absolutely unfair and need a revision.
Pertinent questions and excellent elucidative answers by Mr. Mehta. These questions have become so topical and relevant in view of the large no. of migration of Indians to foreign shores. Thanks to both of you.
After getting permanant residence there is no point investing in India. Between complex hoops of selling and repatriating, combined with depreciating currency, end result is not much gains.
so complex in India , no point in investing in India as Investments in real estate,. For living its ok. If you want to do fully right its extremely difficult
The TDS is on the sale amount not on the capital gain. Filing Form13 seeking a waiver or correct tax is a tedious process that many CAs dont know or wont do it. Even if filed it will take 1 year to get it. It will take one year to get back the TDS suppose if your sale ends in capital loss. Buyer has to apply for TAN. It is complicated and time consuming
Very bad system. Which NRI would like to get stuck by depositing 25% of sale proceeds with govt at the time of selling. Any purchase will be sold at some point. So one must realize 25% is at the mercy of tax authorities and is inaccessible for 1-3 years.
Take from my personal experience. Unless you are thinking of permanently of moving to India at some point or buying for your parents or siblings. Do not buy from an investment perspective too much hassle for too little profit (or lack of it after maintenance cost, tax etc.). In fact if you had purchased 10 years back you are at loss because rupee has depreciated more against dollar/Euro than property value appreciation.
Exactly , I sold my home in India in 2013 and to avoid too much taxes , invested in some specified bonds . Put the remainder money from the sale in to a repatriable account Earning interest as high as 8% . Which was way more than I got overseas .A friend rebuked me for selling and said , the property would appreciate tremendously and I gave him the same answer . There is no point keeping it since the rupee is falling faster compared to the property and not worth the headache
The one point he missed out saying for the benefit of viewers is if the property to be sold is in joint names, each joint holder can invest in Capital Gains Bonds up to Rs.50 lakhs each. Eg. If the property is in the joint names of husband and wife, each spouse can invest in Capital Gains Bonds up to Rs 50 lakhs each ( Total of Rs.1 Cr. In this example).
Renters law should be as USA... that any owner can evacuate in a month... and renters must not have positions to go to court... tax are too high in India....
If you are young with trustworthy family members to take care, ideal for retirement, if strong attachment by your young life. India is going to one of the best economy. Present rupee rate and low prices of houses ideal OPPORTUNITY. With REPATRIABLE facility by strong RUPEE in future will bring more foreign currency with appreciation in prices abdcrebtal income against negligible interest on deposit. Even you can take ADVANTAGE loan at low rate to invest in India.
I would like to disagree with the expert that these days it does not take like 2 years to get your refunds. I know of cases where the TDS on sale pretty fast in 3 months of filing return and the amounts were not in thousands but in lakhs. Let us admit that there are huge improvements on filing returns online, transparency of processes / forms and last but not the least, the speed of getting your REFUNDS in time with INTEREST.
Gain part of sale of house taxability, all procceds taxability if not invested in second house, agri land taxability 👍👍👍 in simple terms. 3 years investment for tax exemption and inflation indexation benefit.
Namaskar Sir Plse start similar videos on taxation in India for all types of assessees... as the initiative taken by you Sir is extraordinary in terms of quality and presentation so it must help Indian citizen too in general. Regards for your greatness to share knowledge as times demand.
Why can’t all these relevant information is not accessible by any one from respective departments. Anchor being a certified chartered accountant goes on explaining how complicated is the process and a common public how can they navigate the maze.
Know of 3-4 friends from UK & US NRIs sold their properties in India due to old age & their children were not interested in settling in India. It’s less hassle to stay in Homestay or hotel than try to maintain their properties in India. It’s very practical to monitise their property at an age when there are uncertainties of age
Thank u so much sir I am at Australia I have very small house in India I was very much confused about nri now little bit understood ,thank u again u r given good explanation,expecting some more details.
Thank you for your insightful video on tax matters. I truly appreciate the effort and clarity you put into explaining such a complex topic. Your guidance has been incredibly helpful in understanding the nuances, and I feel much more confident about handling these issues. Looking forward to more informative content from you!". "My mother, a U.S. Green Card holder, is planning to sell a property in India. She will likely stay in India for more than 182 days during the financial year, and the property value is ₹1.5 crore. Could you please clarify the following:** TDS Rate: What TDS rate will apply in this scenario-1% as a resident or 20% as a non-resident (NRI)? Residential Status: Does her Green Card status or extended stay in India (more than 182 days) determine her tax residency for the sale? Tax Filing Requirements: After the sale, what steps are necessary to file taxes in India, claim refunds (if applicable), and comply with Indian tax laws? FEMA Compliance: If she wishes to repatriate the proceeds to the U.S., what documents and processes are required under FEMA regulations? Thank you for your guidance on this matter."
Dear friend, thanks for sharing this valuable information for NRI's. However the tax slab is changed from april 2022. So better to update this video accordingly
NRI mother gives power of attorney to her NRI son for sale a property… Consulate General of India allowed but objection raised by local authority in India saying both cannot be NRIs....please give advice in this matter.
Dear Mr. Mehta, Very helpful information. However, very less or no information is available for the situation of NRI selling property to NRI in India. Please add some information.
I have account Nro & NRI account. In bank of Baroda. 12 year I went to India and go to bank to deposit some money they asking to do many forms to fill up. asking passport copy. Arrival date copy. BCS your account cease. For to do activate you have do so and so. You go three or four times then they say you get your check book and letter in your Indian address. It's after four five weeks no answer. And time come to go back . Our money but use less. So I stop to go in bank And not doing any transfer money in bank f
Congratulations Mr D B Mehta. very well done. Kindly inform as - after how much time the NRI person can sell the property that they had received as gift from a relative, without any TAX liability.
How is the TDS to be calculated for a sale of property when it is jointly held by an Indian citizen and an NRI with a 50-50% partnership? The property value is more than 50 lakhs.
It do so very conflicting rules for NRI. In your episode of FEM,A NRI cannot have a rupee account. Now how an NRI can sell his property and take the money in rupees after selling his property when he is selling to a local citizen in rupees. Please answer this question. To clear the position for an NRI
For an NRI and / or OCI, who has no adhar card, can it become a problem during a real estate sale transaction? Kindly advise what forms of identification are applicable for such cases.
Nearly with several visits to advocates and headaches in selling property and delays by several steps for sale to take place and nearly over 150 photocopies and rules which is taking so long and banks delay after tds paid and CA issuing certificate and then after sale obtaining a property card another long delay😮
Sir I differ with the speaker as LRS is not applicable in NRI cases and repatriation can be up to 1 m USD even in case of property purchased from INDIAN sources
WE ARE SO THANKFUL TO YOU FOR SHARING SUCH USEFUL INFORMATION HERE AND WOULD LIKE TO CONNECT WITH YOU PERSONALLY AS WELL. THANKS ONCE AGAIN FOR HOLDING THESE EXCELLENT FINANCIAL CONVERSATIONS
The speaker is wrong about 15ca 15cb. One can not repatriate witout filing 15ca and 15cb. So there is no way of not filing 15ca 15cb and doing a repatriation. 15ca 15cb are must for repatriation. So nobody can ignore or forgot to file 15ca 15cb
Very useful information.My question is regarding parents in India wanting to dispose off some property and send the proceeds to NRI children settled abroad.What would be the procedure.
My son who is an NRI wants to sell a property inherited from me . Can he invest the money in capital gains bonds? I shall be grateful if my question is given a reply.
Mr. Metha, thanks for sharing in-depth knowledge about this matter. Cold you also please give another presentation regarding those who are foreign citizens and have OCI card holders? Thanks
Thanks for the detailed explanation about selling. These tax systems are road blockes for investmenting back in India. We are happy to pay tax. But lot of restrictions d complexities
it is best to be aware of these facts as religeous organisations are into property market and selling these to gullible people like myself and hundreds of followers without explaining implications of complex tax issues and remitting after sale and TDS collection before sale.An eye opener and thanks for sharing this info
What if an NRI sells a property at a price lesser than the indexed (legal present price). In other words, if the NRI sells a property at a loss, for Eg: Property bought in 2008 for 50 lacs Property sold in 2021 for 60 lacs This is an obvious distress sale, with No Capital Gains. What about taxation in this case??
Would be good to go through a simple case. Nri selling a apartment in india that they own for more than 2 years. This property was purchased from nre account. What would be needed?
What are tax implications of selling Indian property bought while working in India and now a citizen of another country. Should the property be sold before getting the citizenship of another country.
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
ERRATA :
With respect to minor mistakes that have happened by slip of the tongue, please read below correct information to following time sections
1. Time Stamp 7.24 to 7.47 - Please read it as "Base Year Is 01.04.2001"( instead as 01.04.2000) -
2. Time Stamp 18.02 to 18.24 - Read It As "The number of properties ( two ) restriction is u/s 54F ( instead of section 54 )
3. Time Stamp 8.22 to 9.20, 12.49 to 13.01 & 14.44 to 16.30 - Read it as " The RBI Circular 8/2015-16 allows repatriation upto $ 1 Million for sale of properties which are from NRO funds or inherited properties '
DISCLAIMER : The Opinion expressed in the video or replies to the comments is only for information sake and viewers should seek professional advice before taking any decision "
Sir..what was not clarified was after filing taxes in india does one need to file again in US or abroad. Say one bought prioerty for 30L sold for 50L as per indexation 30L becomes 48L so capital gain is 2L and one pays tax on 2L gain. Does one need to pay 30% in US/abroad on 50L-30L as indexation does not happen in US.
@@AK-gr9qk you corectly asked the question. The expatriated money will be considered as income at other residing country? If we already payvthe CGT it should be treated as clear funds!
Too much of complexities
Thanks for this correction about time stamp. Another confusion, that I noticed. At time stamp 2:30 Mr Mehta says, “the tax rates can be very high depending on value of your property”. I think, what he means is, it depends on amount of capital gain, (not on value of your property).
.
This a genuine public service video. Thank you Dr Bhatt and Mr Desai.
Dr. Chandrakanta Bhat, what a great service you are giving to people like us, elderly parents with children overseas. Very clear and lucid....you have made it so understandable. In today’s world of money for everything, where people don’t tell you even the time of the day free, you are sharing such valuable professional knowledge, for free. Thank you Sirs.
Thankyou very much Sir for such clarity on this topic.
I have a question, we live in SAUDI and we bought a plot in india by paying the money in SAR tour freind and he in turn paid to the person concerned and we were given the plot documents on our name in 2006. However, we do not have any bank records or payment details for this particular property except the ORIGINAL AGREEMENT ON OUR NAMES. SOincase we have to sell the property tomorrow how do we go about it ? Please advice.
@@shrideviraokyou need a property lawyer
It’s time for NRI’s to stop investing in real estate , they are better off investing in the country they live.
You have a point . You dont need to be too pessimistic. Please subscribe and keep sharing the videos
absolutely right
I agree with you. We are treated by govts like milking cows.
Ditto...regret investing in India..starting from the chaprasi to the top most officer they are all super theives..all are after money . NEVER invest in India
I regret having property in India... 😢
In many years, first time I got a clear picture of the amount of steps I need to go through before and after selling property. Thank you very much to Dr Bhatt and Mr. Desai.
As USA citizen I am canceling my plan to invest in India . Was dreaming of beautiful bungalow. This talk showed how much headaches I will have in future. I don’t want headaches when I am old. After watching half video only I got scared 😱 to hell
Gd job Manju..save your hard earned nickels n dimes n live happily ever after..
Proud to be living in my own country Bharat
Exactly ❤same with me I will not buy anything in India as lot of headache 🤕 and crazy Indian laws
U can invest and gift it to your family member. No headache.
Good decision. I am selling a property. Shocked to learn that income tax refund will take 2 years! Compare this with 5-10 working days in the US. And they say India has progressed and is investor friendly!
May be you should do a calculation for an NRI property sold for 1 Crore with all the deductions and implications and how much one can expatriates etc.
No point keeping property in India nowadays.
Kids born abroad to Indian parents not interested in property or even visiting.
Best to sell and use the money to buy home for kids and visit India for vacation
Thank for providing such an important information. My advice is based on my personal experience: 1. Buy the property when it is ready to be delivered. 2. Ensure that Authorities are in the process of registering such properties and will accept the POA in case required.3.There must be a very trusted person who can follow-up procedures on your behalf, or you have a lot of time to be present in India, 5. Please note that if the property is vacant, it can be occupied by someone; Any legal action may take many years to conclude, not necessarily in your favour. I hope the government makes new laws for NRIs and PIOs to buy and sell properties in India. Legal actions must be settled on priority basis for those living abroad.
Ranjit..good advice..this video gives theoretical perspective,it does not mention about typical …baboo Jee..fees n bribes to keep your case active n other official corruptive practices. ..unfortunately..it is sickening n time wasting process ..in big transactions CAs n officials associated official might ask their bigger share under the table..so be careful..just save your hard earned nickels n dimes overseas.. n..live happily ever after..
Beware.. tricky people can fiddle land registry records and deprive you of your land .Legal proceedings takes generations and tons of cash .
Because of these bureaucracy issues and super high tax no one wanna do business here
Very good explanation and interview. My MIL is an Indian citizen with a green card, I'm a U.S. citizen with an OCI card. She wants me to visit India and handle her property matters since she cannot travel. This program gives us a very good idea of what we need to do and look at.
There is no point in investing inreal estate in India. Both buying and selling side complications are huge, moreso for NRIs.
Great (Free) Service. Valuable information that's not easily available. Sharp and right questions and unambiguous, straight forward answers. Thank you
Thank you so much . Please subscribe and keep sharing the videos
If you (NRI)are selling inherited property, you can repatriate full amount.You have to show the deceased was assessed to tax, had paid taxes, you inherited it by a Wii.You have to get probate from the court , submit it to your bank and the bank will remit it to foreign bank.In my case it was city bank at both places.The bank had concerted the amount from NRO to NRE and then remitted it.This happened some 5 yrs ago so I have forgotten exact details.
Is that india Government is very poor to make money of 30% and/or 20% plus surcharge of 20% minimum from NRI selling property? This tax rate is absolutely unfair and need a revision.
Pertinent questions and excellent elucidative answers by Mr. Mehta. These questions have become so topical and relevant in view of the large no. of migration of Indians to foreign shores. Thanks to both of you.
After getting permanant residence there is no point investing in India. Between complex hoops of selling and repatriating, combined with depreciating currency, end result is not much gains.
so complex in India , no point in investing in India as Investments in real estate,. For living its ok. If you want to do fully right its extremely difficult
you have a point . Please subscribe and keep sharing the videos
The TDS is on the sale amount not on the capital gain. Filing Form13 seeking a waiver or correct tax is a tedious process that many CAs dont know or wont do it. Even if filed it will take 1 year to get it. It will take one year to get back the TDS suppose if your sale ends in capital loss. Buyer has to apply for TAN. It is complicated and time consuming
Very bad system. Which NRI would like to get stuck by depositing 25% of sale proceeds with govt at the time of selling. Any purchase will be sold at some point. So one must realize 25% is at the mercy of tax authorities and is inaccessible for 1-3 years.
Take from my personal experience. Unless you are thinking of permanently of moving to India at some point or buying for your parents or siblings. Do not buy from an investment perspective too much hassle for too little profit (or lack of it after maintenance cost, tax etc.). In fact if you had purchased 10 years back you are at loss because rupee has depreciated more against dollar/Euro than property value appreciation.
Your point of view is appreciated . Please subscribe and keep sharing the videos
Exactly , I sold my home in India in 2013 and to avoid too much taxes , invested in some specified bonds . Put the remainder money from the sale in to a repatriable account Earning interest as high as 8% . Which was way more than I got overseas .A friend rebuked me for selling and said , the property would appreciate tremendously and I gave him the same answer . There is no point keeping it since the rupee is falling faster compared to the property and not worth the headache
Just accidentally came across this video. Very helpful information. Thanks very much.
After the sale money can be kept in govt bonds for 5 years. Put the tax return. Get the tax back to a large extent
The one point he missed out saying for the benefit of viewers is if the property to be sold is in joint names, each joint holder can invest in Capital Gains Bonds up to Rs.50 lakhs each. Eg. If the property is in the joint names of husband and wife, each spouse can invest in Capital Gains Bonds up to Rs 50 lakhs each ( Total of Rs.1 Cr. In this example).
Renters law should be as USA... that any owner can evacuate in a month... and renters must not have positions to go to court... tax are too high in India....
Sotuation is not that difficult as it is made out to be. One needs to consult the right CA and follow the procedure.👍
Citibank takes 2 months to repatriate. Worst bank to repatriate money
Very informative and educational. Plain simple language, no rush or jargon. Thanks a lot.
Very useful topic and very well presented & explained. Thank you.
I advised NRI not to buy property in India. Problems are many tax,someone occupy the property. God only should save the owner .
I agree. To invest money in India is to invite headaches and finally to lose your money.
You have a point . Please subscribe and keep sharing the videos
You have a point . But dont be too pessimistic. Problems are there in every part of the world. Please subscribe and keep sharing the videos
If you are young with trustworthy family members to take care, ideal for retirement, if strong attachment by your young life. India is going to one of the best economy.
Present rupee rate and low prices of houses ideal OPPORTUNITY. With REPATRIABLE facility by strong RUPEE in future will bring more foreign currency with appreciation in prices abdcrebtal income against negligible interest on deposit.
Even you can take ADVANTAGE loan at low rate to invest in India.
@@comesthru not true. If you do right thing by right person with transparency no problems in morden I.T.
I would like to disagree with the expert that these days it does not take like 2 years to get your refunds. I know of cases where the TDS on sale pretty fast in 3 months of filing return and the amounts were not in thousands but in lakhs. Let us admit that there are huge improvements on filing returns online, transparency of processes / forms and last but not the least, the speed of getting your REFUNDS in time with INTEREST.
Gain part of sale of house taxability, all procceds taxability if not invested in second house, agri land taxability 👍👍👍 in simple terms. 3 years investment for tax exemption and inflation indexation benefit.
Very good information for NRIs planning to sell and repatriate the money from it.
Thank you . Please subscribe and keep sharing the videos
Namaskar Sir
Plse start similar videos on taxation in India for all types of assessees... as the initiative taken by you Sir is extraordinary in terms of quality and presentation so it must help Indian citizen too in general.
Regards for your greatness to share knowledge as times demand.
Very interesting , valuable information.
Merci beaucoup infiniment pour vos renseignements .
Why can’t all these relevant information is not accessible by any one from respective departments. Anchor being a certified chartered accountant goes on explaining how complicated is the process and a common public how can they navigate the maze.
It’s better for nri not to invest in Indian real estate not only they increase demand it’s difficult to sell
Very informative and useful session Dr Bhatt and Mr Mehta
Thank you so much for your kind words. Please keep sharing the videos
Know of 3-4 friends from UK & US NRIs sold their properties in India due to old age & their children were not interested in settling in India. It’s less hassle to stay in Homestay or hotel than try to maintain their properties in India. It’s very practical to monitise their property at an age when there are uncertainties of age
Superb! Cleared some of my queries!
Thanks!!
Dr Chandrakant-avare, Wonderful Video with a LOT of Useful Information for us NRIs. Dhvd 🙏🙏🙏
Thank u so much sir I am at Australia I have very small house in India I was very much confused about nri now little bit understood ,thank u again u r given good explanation,expecting some more details.
Thank you for your insightful video on tax matters. I truly appreciate the effort and clarity you put into explaining such a complex topic. Your guidance has been incredibly helpful in understanding the nuances, and I feel much more confident about handling these issues. Looking forward to more informative content from you!". "My mother, a U.S. Green Card holder, is planning to sell a property in India. She will likely stay in India for more than 182 days during the financial year, and the property value is ₹1.5 crore. Could you please clarify the following:**
TDS Rate: What TDS rate will apply in this scenario-1% as a resident or 20% as a non-resident (NRI)?
Residential Status: Does her Green Card status or extended stay in India (more than 182 days) determine her tax residency for the sale?
Tax Filing Requirements: After the sale, what steps are necessary to file taxes in India, claim refunds (if applicable), and comply with Indian tax laws?
FEMA Compliance: If she wishes to repatriate the proceeds to the U.S., what documents and processes are required under FEMA regulations?
Thank you for your guidance on this matter."
It is not TDS for NRI / non-citizen selling property in India it is TCS
Dear friend, thanks for sharing this valuable information for NRI's. However the tax slab is changed from april 2022. So better to update this video accordingly
Excellent Video. Sharp and to the point explanation referring to respective I-T application sections. Thank you! Dr. Mehta is articulative.
Very well explained. Added value to my knowledge. Thanks.
It's very Good Knowledge based video, Thank You SirJi
NRI mother gives power of attorney to her NRI son for sale a property… Consulate General of India allowed but objection raised by local authority in India saying both cannot be NRIs....please give advice in this matter.
Dear Mr. Mehta, Very helpful information. However, very less or no information is available for the situation of NRI selling property to NRI in India. Please add some information.
Very useful information I was trying to find by talking to many tax consultants in India! Thank you for your complimentary service 🙏
I have account Nro & NRI account. In bank of Baroda.
12 year I went to India and go to bank to deposit some money they asking to do many forms to fill up. asking passport copy. Arrival date copy.
BCS your account cease. For to do activate you have do so and so. You go three or four times then they say you get your check book and letter in your Indian address.
It's after four five weeks no answer. And time come to go back . Our money but use less. So I stop to go in bank
And not doing any transfer money in bank f
Thank you. If NRI purchased one small apartment for renting purpose for retirement purpose but he will back permanently to india
Very useful information Dr Bhatt and Mr Mehta. I am permanently living in the UK and planning to sell my house and the plot back home
Thank you very much for your kind words. Please subscribe and keep sharing the videos
Clear Indian tax system is so complex.
Please also Explain about, What are the Income Tax Implications for Sale of Agricultural Land by an NRI ??
Very well video! Extremely thankful for doing this.
Congratulations Mr D B Mehta. very well done. Kindly inform as - after how much time the NRI person can sell the property that they had received as gift from a relative, without any TAX liability.
How is the TDS to be calculated for a sale of property when it is jointly held by an Indian citizen and an NRI with a 50-50% partnership? The property value is more than 50 lakhs.
It do so very conflicting rules for NRI. In your episode of FEM,A NRI cannot have a rupee account. Now how an NRI can sell his property and take the money in rupees after selling his property when he is selling to a local citizen in rupees. Please answer this question. To clear the position for an NRI
Outstanding session. Thanks to you both.
For an NRI and / or OCI, who has no adhar card, can it become a problem during a real estate sale transaction? Kindly advise what forms of identification are applicable for such cases.
Hi did you got information about this subject. I don't have Aadhaar card. I have only pan card
Sir, 15CA and 15CB have to be filed with IT dept before outward remittance is done, otherwise your bank will not process it
So clearly explained...clear and simple
Great service. Information packed.
Nearly with several visits to advocates and headaches in selling property and delays by several steps for sale to take place and nearly over 150 photocopies and rules which is taking so long and banks delay after tds paid and CA issuing certificate and then after sale obtaining a property card another long delay😮
Sir I differ with the speaker as LRS is not applicable in NRI cases and repatriation can be up to 1 m USD even in case of property purchased from INDIAN sources
It is not clear what
kinds of documents should an NRI/OCI holder must have to sell property in India when he does not have a Aadhaar card or PAN card.
Agriculture land sales no capital gains
WE ARE SO THANKFUL TO YOU FOR SHARING SUCH USEFUL INFORMATION HERE AND WOULD LIKE TO CONNECT WITH YOU PERSONALLY AS WELL. THANKS ONCE AGAIN FOR HOLDING THESE EXCELLENT FINANCIAL CONVERSATIONS
The speaker is wrong about 15ca 15cb. One can not repatriate witout filing 15ca and 15cb. So there is no way of not filing 15ca 15cb and doing a repatriation. 15ca 15cb are must for repatriation. So nobody can ignore or forgot to file 15ca 15cb
Very useful information.My question is regarding parents in India wanting to dispose off some property and send the proceeds to NRI children settled abroad.What would be the procedure.
What if flat is jointly owned by 2 brothers, first owner is NRI and second owner is Indian resident? How the sale will happen?
Excellent episode. Very informative
What is tax rate to an ancestral property or a gifted property sold by an nri in India
My son who is an NRI wants to sell a property inherited from me . Can he invest the money in capital gains bonds? I shall be grateful if my question is given a reply.
If a NRI invest in a property from his foreign income ,do have to make any declaration in India
Mr. Metha, thanks for sharing in-depth knowledge about this matter. Cold you also please give another presentation regarding those who are foreign citizens and have OCI card holders? Thanks
Excellent inciteful session
Q2. If the TDS is not deposited, who will be held responsible the NRI seller or the Resident Indian Buyer
immensely valuable. well done and thank you.
Thanks for the detailed explanation about selling.
These tax systems are road blockes for investmenting back in India.
We are happy to pay tax. But lot of restrictions d complexities
Thanks Mr Mehata for detailed information
Always welcome. Please subscribe and keep sharing the videos
I understand that Liberalised remittance scheme of usd 250000 is for resident Indian only and not for NRIs. Please clarify.
For NRIs 1 Million dollar scheme is applicable
Excellent. Mr Mehta has not confirmed if Sec 54, 54F or 54EC is applicable to NRIs.
Please share information based on latest Income Tax provisions (based on Assessment year 2024 - 2025). For property valued at Rs. 1.7 Cr.
it is best to be aware of these facts as religeous organisations are into property market and selling these to gullible people like myself and hundreds of followers without explaining implications of complex tax issues and remitting after sale and TDS collection before sale.An eye opener and thanks for sharing this info
Thank you very much. Excellent information provided in a clear concise manner.
Lesson: Stay clear of India.
Very good presentation 👌
What is remedy to buyer if seller hides the fact that he is an NRI while selling the Property?
What if an NRI sells a property at a price lesser than the indexed (legal present price).
In other words, if the NRI sells a property at a loss, for Eg:
Property bought in 2008 for 50 lacs
Property sold in 2021 for 60 lacs
This is an obvious distress sale, with No Capital Gains.
What about taxation in this case??
How do you determine that under what section does ur property fall under weather its a section 54 or 54f?
Fabulous video!! Thanks for sharing your knowledge
Thank you for the very useful information for NRIs. Thank you for the efforts.
Would be good to go through a simple case. Nri selling a apartment in india that they own for more than 2 years. This property was purchased from nre account.
What would be needed?
If Buyers (residential) payment whole sale consider without deduction of TDS to NRI ...
Can take benefit of 1st proviso of Sec 201(1)
What are tax implications of selling Indian property bought while working in India and now a citizen of another country.
Should the property be sold before getting the citizenship of another country.
Absolutely clear explanations.Thank you.
Thanks for your feedback. Please subscribe and keep sharing the videos
If it very clear NRI is selling property in LTC loss then how to tackle the issue of TDS?
How to transfer property from my parents to their heirs ? Parents are deceased. The will is unregistered
Question for OCI holders with adahar who sell property that they had as an Indian citizen. What are the tax implications and filing requirements?
Please consult a chartered accountant on this