NRIs Selling Property In India - All that you need to know - By D B Mehta

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[@NRIMoneyClinic]

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 "

[@AK-gr9qk]

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.

[@panimeda245]

@@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

[@RRDARGAD]

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).

[@kishorepagare5407]

.

[@tejasrao6941]

This a genuine public service video. Thank you Dr Bhatt and Mr Desai.

[@padmaramnath6364]

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.

[@shrideviraok]

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.

[@jmatt98]

@@shrideviraokyou need a property lawyer

[@tpadma]

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.

[@PerriiMuthuraman]

Great (Free) Service. Valuable information that's not easily available. Sharp and right questions and unambiguous, straight forward answers. Thank you

[@NRIMoneyClinic]

Thank you so much . Please subscribe and keep sharing the videos

[@ssa8479]

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.

[@jayaramanswaminathan9143]

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.

[@sharatjoshi8668]

Dr Chandrakant-avare, Wonderful Video with a LOT of Useful Information for us NRIs. Dhvd 🙏🙏🙏

[@ranjitsumra1618]

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.

[@kssandhu4693]

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..

[@megafraudbuster4124]

Beware.. tricky people can fiddle land registry records and deprive you of your land .Legal proceedings takes generations and tons of cash .

[@panimeda245]

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.

[@kris4n]

It’s time for NRI’s to stop investing in real estate , they are better off investing in the country they live.

[@NRIMoneyClinic]

You have a point . You dont need to be too pessimistic. Please subscribe and keep sharing the videos

[@puremeteor]

absolutely right

[@rizwanwasi7019]

I agree with you. We are treated by govts like milking cows.

[@nc541]

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

[@megafraudbuster4124]

I regret having property in India... 😢

[@newyorkparishsteci]

Very informative and educational. Plain simple language, no rush or jargon. Thanks a lot.

[@manjug9843]

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

[@kssandhu4693]

Gd job Manju..save your hard earned nickels n dimes n live happily ever after..

[@vamm6270]

Proud to be living in my own country Bharat

[@marathipower2782]

Exactly ❤same with me I will not buy anything in India as lot of headache 🤕 and crazy Indian laws

[@satishkulkarni2399]

U can invest and gift it to your family member. No headache.

[@vish6306]

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!

[@kirtipandit2010]

Because of these bureaucracy issues and super high tax no one wanna do business here

[@ordinaryman1603]

Very good information for NRIs planning to sell and repatriate the money from it.

[@NRIMoneyClinic]

Thank you . Please subscribe and keep sharing the videos

[@mapervez7978]

Very useful topic and very well presented & explained. Thank you.

[@valmikisharanjyoti425]

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.

[@TmRst]

Just accidentally came across this video. Very helpful information. Thanks very much.

[@meyyappansubramanian7078]

Very interesting , valuable information. Merci beaucoup infiniment pour vos renseignements .

[@arunpatel3025]

Very useful information I was trying to find by talking to many tax consultants in India! Thank you for your complimentary service 🙏

[@patriocticIndian]

Excellent Video. Sharp and to the point explanation referring to respective I-T application sections. Thank you! Dr. Mehta is articulative.

[@AR-scorp]

There is no point in investing inreal estate in India. Both buying and selling side complications are huge, moreso for NRIs.

[@sameerparmar8220]

It's very Good Knowledge based video, Thank You SirJi

[@gopalchamarthi4863]

Very well video! Extremely thankful for doing this.

[@manivelan9672]

Superb! Cleared some of my queries! Thanks!!

[@vamanraymehta5795]

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.

[@vikramnarayan5672]

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

[@NRIMoneyClinic]

Thank you very much for your kind words. Please subscribe and keep sharing the videos

[@josephalex.1911]

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

[@NRIMoneyClinic]

you have a point . Please subscribe and keep sharing the videos

[@vinoliajeyamani3164]

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.

[@venugopalansekharan3367]

Very well explained. Added value to my knowledge. Thanks.

[@dadu251]

Very informative and useful session Dr Bhatt and Mr Mehta

[@NRIMoneyClinic]

Thank you so much for your kind words. Please keep sharing the videos

[@ismailmohideen9112]

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."

[@SSModi852]

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.

[@jpharimane4774]

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

[@rajans8972]

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

[@vinso2388]

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.

[@abhishekchaudhari8233]

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.

[@gomathyilangovan4717]

Great service. Information packed.

[@drgadham]

Very good presentation 👌

[@KA-ry6nz]

Thank you very much. Excellent information provided in a clear concise manner.

[@prt3655]

Very good information given by you. I liked the way you have covered such complex subject in simple language. Thanks 🙏🏼

[@maif8765]

Very valuable advice, thank you. I sold my property in India but my CA refused to complete the 15c and 15A forms.

[@j.r.6517]

Well explained. Very informative. Thanks a lots. 👍

[@preethishukla8403]

So clearly explained...clear and simple

[@npratapvet]

Excellent episode. Very informative

[@outdoorteaks]

Thanks for great info video. I have one question. When you gift part of property to family member and that member want to sell the property without holding it. Is he liable for long term gains or short term. In other words at what stage the clock starts. Thanks

[@kanavsood777]

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

[@SSModi852]

Thanks for such a good video. It covers so many questions and most scenarios that we may come across.

[@rishidas3005]

Fabulous video!! Thanks for sharing your knowledge

[@ThinkAboutTheWow]

immensely valuable. well done and thank you.

[@krishnakumarcherubalakesav5059]

Outstanding session. Thanks to you both.

[@RaitaNag]

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

[@gakkadguy]

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.

[@NRIMoneyClinic]

Your point of view is appreciated . Please subscribe and keep sharing the videos

[@bryandsouza9905]

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

[@devendragupta3158]

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.

[@thakor99]

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....

[@mathaikuttychankurayyathu3986]

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.

[@shivsparkky]

How do you determine that under what section does ur property fall under weather its a section 54 or 54f?

[@gramakrishnarao3003]

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.

[@FarooqAhmad-en1so]

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.

[@natesankabilan7596]

What is tax rate to an ancestral property or a gifted property sold by an nri in India

[@vhsele]

Thanks for the valuable information. Is it necessary to deduct TDS even if there is no capital gain either long term or short term ?

[@swapnatilak315]

Thanks alot Sir for this video.. superb content with full clarity.

[@AshokKumar-2113]

Thanks very very good information. Very helpful

[@sitarampal6753]

very useful video thanks for creating it

[@RameshPatel-ph3ie]

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

[@bhasker10sai45]

Certain clarifications are further required. 1. Proceeds of how many real estate properties can be repatriated by an NRI?! 2. If there is a limited number of properties that can we repatriate excess number of properties and if so how? 3. Like inherited property NRIs have properties that were purchased before becoming NRIs. How to deal with such properties.

[@smartmom7758]

Great informative video thank u

[@subramanyanr6815]

Will a citizen of America be able to sell his property in India and what is the tax implications on capital gains? Indexation availability and tax on gains? Please enlighten

[@maypushful]

Sir, thanks very clear and understanding. I have one question, I am a NRI house is on both of our name value 1cr,how they tax.

[@neevsepicbrawlstarsvideos8863]

Very useful information. Thank you so much! Very clear

[@krishs294]

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.

[@ArviendAgarwaal]

Thank you Dr. Bhat and Mr. Mehta for informative video. From where can we find the information on the indexation chart for LTCG calculations and fair value of property as of 2001 to calculate LTCG Tayes?

[@shivoham99]

Absolutely clear explanations.Thank you.

[@NRIMoneyClinic]

Thanks for your feedback. Please subscribe and keep sharing the videos

[@piydix]

Thanks for sharing the information and articulating in a simple fashion!

[@us8057]

Please can you advise on tax implications of selling overseas property and taking sale proceeds to India ...

[@panimeda245]

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.

[@ashar139]

Sotuation is not that difficult as it is made out to be. One needs to consult the right CA and follow the procedure.👍

[@rasilaparikh]

Lots of knowledge. Great value to me.

[@vermoidvermoid7124]

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?

[@rajeshwargaddam7336]

Thanks Mr Mehata for detailed information

[@NRIMoneyClinic]

Always welcome. Please subscribe and keep sharing the videos

[@umeshrr4469]

Hello Sir , Thank you very much covering of subject and the information provided. All Information very necessary for every NRI to know.

[@ahmedsaleem8279]

Hi, love your videos. The rules established for NRI's pertaining to selling the property are they the same for OCI holder.

[@natarajanbaradwaj3560]

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).

[@ashar139]

Thanks for shaing and uploding th details of the 5rules. If there an additional / different rule if the seller is a foreign citizen now ( a person with PIO card ) and not an NRI who is an Indian citizen?

[@sparr2005]

Thanks for sharing your thoughts!

[@myriammcdowell1360]

Thank you for such information but would anyone provide me with further guidance as to best way to proceed with selling inherited property? What type of lawyer or what field is best suited to process this transition. Current owner lives in USA. Help!😢

[@suchita52]

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

[@vijayagundurao593]

How can we reinvest to purchase a house with entire sale proceeds as per 54 F, when our money is caught in TDS?can you please elaborate on this?

[@george208545]

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.

[@rukmanisampathkumar3296]

Very well explained many doubts cleared. Please explain in more detail about gifts to NRI children and grand children, quantum and procedures involved

[@Library701]

Will you pl explain tax liability on interest in come and repatriate interest and principal amount.

[@luckysky1876]

Thank you for sharing useful information

[@sharmamadan65]

Thanks for the info. Jai Hind

[@jaisuranasurana2950]

thank you so much for this valuable information🙏

[@daisysoares6474]

It's very knowledgeable

[@ramaavenkat2217]

Great video. Thank you

[@rajalakshmisundaresan9623]

Good advice.good.

[@thekkathnathan8152]

Thank you for the very useful information for NRIs. Thank you for the efforts.

[@sita9001]

There are two values for very old properties inherited namely FMV and guideline value as on 1.4.2001. Are they same? If not how to get FMV, which will be acceptable? Thanks

[@philemongandhi6286]

Effective 01/04/2021, it's guidance value, not FMV that is taken into consideration for computing capital gains. For properties acquired before 01/04/2001, obtain from the sub-registrar's office the guidance value of your property as on 01/04/2001. Unfortunately, the only document available in a sub-registrar's office here in Bangalore is a gazette notification dated December 03, 1998 on the subject of guidance value/estimated market value, and based on this, we can either go by the book and apply the guidance value in this gazette notification or find the guidance value as at 2001, and for this we need the help of the staff at the sub-registrar's office.

[@vk-lt9wv]

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.

[@mikeshah429]

Brilliant informative video