Reduce Your Tax Burden NRIs Selling Property In India

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[@pods7731]

very useful information

[@sunitalewis3618]

Can the buyer transfer the TDS amount to seller and seller then pays the TDS on sale of property instead of the buyer

[@AmitJain-xg8ky]

Hello sir, if I am an NRI living in USA, there is a treaty between India and USA that I will have to pay taxes in USA. Does that mean I can get refund or have no taxes deducted in India since I am getting taxed in USA itself. How do I avoid double taxation in this case?

[@NRIMoneyClinic]

There are detailed videos on double tax avoidance- DTAA on this channel . Please search for the video and be guided

[@mnarayanaswami3262]

Sir… if the property is jointly owned by the husband and wife, should we apply for TWO LTDS certificates from the Income Tax Department?

[@filemyreturnofficial]

Dear Sir, Yes you would need to apply for Two separate Lower TDS certificates. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@suvobrataghosh2540]

I have one property in Kolkata, which I inherited from my father. The property was built more than 50 years back on a land received as a gift by my father from my grandmother. I do not have any acquisition cost of this property. How do I calculate capital gains.

[@filemyreturnofficial]

Dear Sir, You will need to connect with us over the contact details provided in the Video or Description of this Video and we shall be able to help you with that. Thank You Team FMR

[@renjithjoseph1755]

Is the 10% ,15% surcharge on the total sales value of the property or is it on capital gains.

[@filemyreturnofficial]

Dear Sir, The surcharge will be applicable on the Capital Gain Tax Amount. Surcharge % is decided basis the Sales Value of the property. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@barunroy2771]

Sir- I am an NRI and last year I sold my property and a 23% TDS was deducted. I have to recover the amount this year and have to file my ITR. My CA has done the calculation. My quetion is - can I buy some Capital Gain Bonds to reduce my capital gain Tax , after one year of the sale of the property. My CA says there is a 6 month period, now it is too late.

[@filemyreturnofficial]

Dear Sir, Your CA is right. But you can still explore the option to buy another property for the Capital Gain amount, subject to you fulfilling certain pre-conditions. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@rohitkale5863]

If I invest my property capital gains in India either in another residential property or government infrastructure bonds, I don't get charged for the capital gains tax. But when I file my taxes in USA, can I still be eligible for NO CAPITAL GAINS TAX ??

[@filemyreturnofficial]

Dear Sir, With USA, the rules are different and DTAA provisions apply differently. So Capital Gains may be taxable, but you shall have to connect with your Local Tax Return preparer for specific inputs. Thank You Team FMR

[@pods7731]

What happpens if I do not repatriate the money from sale of property and invest in Indian caiptal market ?

[@filemyreturnofficial]

Dear Sir, You can chose not to repatriate the money and may invest in whatever manner you want. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@jatindigra]

Sir, what will be the date of purchase of the under construction property for applicable Capital Gain Slab if registration is not done yet. Would it be considered from date of registration or original date of purchase or allotment date? Pls help to clarify.

[@filemyreturnofficial]

Dear Sir, Indexation will be done basis the date of each payment made. Registration is not mandatory for sale of any property. You can connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@renjithjoseph1755]

Is educational cess charge of 4% on total value of sales price

[@filemyreturnofficial]

Dear Sir, The same is on the Capital Gain Tax + Surcharge Amount and not on the Sale Price. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@ramzanrajsi6970]

Sir, Any video on NRIs LTCG exemption in India stock market do UAE based NRIs may get exemption of 1 lakh on long term capital gain exemption on equity MFs gain same like indian resident ? 2. Do an NRI may get tax exemption of Rs 3 lakh in india income tax under new tax regiem ? Any video on this can be helful for Dubai based NRIs Thanks Ramzan

[@mnarayanaswami3262]

Sir.. I am an NRI & have plans to sell my property in India. Please clarify whether the Agreement to Sell Property should be Registered. If the agreement could be signed by the Seller and Buyer in plain White Paper is that valid? Will Income Tax department accept that?

[@filemyreturnofficial]

Dear Sir, The property is not required to be registered for executing an Agreement to Sell. You will need to connect with us over the contact details provided in the Video or Description of this Video and we shall be able to help you with that. Thank You Team FMR

[@renjithjoseph1755]

Is educational cess only applicable to NRIs

[@filemyreturnofficial]

Dear Sir, No Educational Cess is applicable to both Resident Indians and NRIs. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@SurajNagvekar]

Do I have to buy the property in India or I can buy it overseas to offset the long term capital gains?

[@gauravipal5691]

No country allows offset based on a different country.

[@filemyreturnofficial]

Dear Sir, You will have to purchase property in India only for any offset and not overseas. Thank You Team FMR

[@VirajMunich1]

Too confusing explanation

[@renjithjoseph1755]

Is the surcharge only applicable to NRIs

[@filemyreturnofficial]

Dear Sir, No it is applicable to Resident Indian as well. Thank You Team FMR

[@gokulsumaithangiramamurthy7897]

No NRI should invest in india. 25 % tax rate is unreasonable.

[@anoopar6037]

All Thanks to Viswaguru PM who does tax terrorism... Working class NRIS hardearned money is been looted and giving to corporates like adani

[@mebinninan]

What about the tax outside.. Is it 20 -40%

[@filemyreturnofficial]

Dear Sir, This is an incorrect interpretation, the 24% is the withholding tax (TDS) which NRI can claim as a refund while filing his ITR. The Long Term Capital Gain amount shall be taxed at 20% which is lower than most other countries. For more information, kindly connect with us over the contact details provided in the Video or Description of this Video. Thank You Team FMR

[@thokaleni]

Thanks for clarifying. How would capital gains tax apply if the immovable property is sold or handed over to a residing family member e.g. mother.

[@krisreddy5950]

​@filemyreturnofficial In USA, long term cap gains taxed at 15%. Hold the property atleast for 1 year.

[@mnarayanaswami3262]

Sir.. I am an NRI & have plans to sell my property in India. Please clarify whether the Agreement to Sell Property should be Registered. If the agreement could be signed by the Seller and Buyer in plain White Paper is that valid? Will Income Tax department accept that?

[@Captain_Tiger]

no. must be digital signature

[@filemyreturnofficial]

Dear Sir, The property is not required to be registered for executing an Agreement to Sell. You will need to connect with us over the contact details provided in the Video or Description of this Video and we shall be able to help you with that. Thank You Team FMR