What are tax implications for NRI wanting to sell property in India? - Property Hotline
January 27, 2017
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3:21Now PlayingWhat are tax implications for NRI wanting to sell property in India? - Property Hotline
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as posted by the channelExpert: Pannkaj Ghadiali, PC Ghadiali & Co
Question: My daughter is an NRI, she has got a house in Chennai and she wants to sell it. What are the tax implications?
Answer: Tax implications are same for an NRI as well as a resident. There is only one difference, in case of two residents, the TDS is at the rate of 1%. But in case of an NRI, the TDS rate is high, it is equal to the rate of capital gains which the buyer will have to deduct and she will have to file the return. If tax reduction is more, the balance amount can be claimed as refund.
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