Tax Benefits for NRIs on the Sale of Property in India

Tax Benefits for NRIs on the Sale of Property in India | Groww NRI

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Күн бұрын

Пікірлер: 32

@sunil.shegaonkar1 3 ай бұрын

TDs is the greatest blunder, at least when they deduct in quite excess like NRIs accounts have TDS deduction of 30%. And then access TDS is refunded next year but counted as a income. They deduct more tax, creating more refund and that becomes a income next year. They are fooling 10 crores of NRI i am shouting this for years

@srinivasa1275 6 ай бұрын

Excellent information

@cms257 2 ай бұрын

NRI DO NOT MAKE ANY PROFIT ON ANY INVESTMENTS IN INDIA. The amount of realized exchange loss is always more than the amount of profit. Government of India MUST allow the deduction of the exchange loss before calculation of the taxable income. The net amount is LOSS.😅

@sunil.shegaonkar1 4 ай бұрын

why is there TDS payable, when NRI knows the clear tax on LTCG is 12.5% (without indexation)

@vinay108322 Ай бұрын

Incomplete and partially incorrect info. NRI don't save any tax but pays more tax if the country of residence apply taxes on global income such as US and Canada, irrespective of you reinvest to save taxes in India. I recently sold one and had to pay taxes in India as well as in USA (federal after partial adjustment of taxes in India and State Tax)

@bluesapphire7548 3 күн бұрын

Great video! My regards. Im a Canadian citizen. I have student loan in India and my apartment (in Kolkata) which is mortgaged with the bank who furnished the student loan is still registered in the name of my deceased mother. I want to sell the apartment and pay off the loan. But I understand I need the ownership in my name through legal heir certificate etc. After transfer of ownership, what might be the next steps? Can I channel the entire money to loan clearance and repatriate remaining money (whatever little) to Canada? Or there are surprises in between? Much thanks!

@AbhayMamidpalliwar 7 ай бұрын

What the Hell of a hassel is this

@iqmicro 5 ай бұрын

Hi could you make a video on long term capital gains tax on selling a property with the new tax laws..appreciate your videos.tks

@sunil.shegaonkar1 4 ай бұрын

12.5%

@pradeepmittapalli2369 Ай бұрын

Hello, I have a question. Currently, I am an NRI and am considering purchasing property in my name. After a few years, I plan to move back to India permanently, and I may sell the property in the future. In this scenario, would I still be considered an NRI at the time of sale, and would I be required to pay TDS on the property sale as an NRI? Thank you for your assistance.

@vijaya12345 6 ай бұрын

Are you saying there is 20% TDS on sale price + additional 20% on capital gains as well. For example if 20 lacs is sale price, 20% tds is 4 lacs. If 10 lacs is capital gain, additional 20% on 10 lacs should be paid again? So it is 4 + 1 lac???

@RakeshMondal-zs4ym 6 ай бұрын

TDS is not your tax liability... In your example, you'll get 3 lakh refund

@sunil.shegaonkar1 4 ай бұрын

@@RakeshMondal-zs4ym why is there TDS payable, when NRI knows the clear tax on LTCG is 12.5% (without indexation) according to new directives New Regime

@RakeshMondal-zs4ym 4 ай бұрын

@@sunil.shegaonkar1 So that the NRI can't evade taxes.. imagine if someone sold the house then took all money and left india without paying taxes. For an NRI it's possible to do this

@sunil.shegaonkar1 4 ай бұрын

@@RakeshMondal-zs4ym No, that is not possible at least with the new directive in force. That says the buyer of the property is responsible for deducting TDS from NRI seller. So TDS is stuck to the property, and the buyer who holds the property. Tax dept do not run after seller, they have already got their money as TDS. BTW where are you located? I was trying to create FB group, but bleak response to form a Group. I am more serious concern to share. Tax department charge 30% TDS on bank deposit or dividend of NRI community (it is 10% for Indian resident). What happens next, this TDS when deducted in excess is refunded to you next year after tax filing. But the same refund is treated as income for your current year. I asked this question to Ministry of Finance, income tax department and Sitaraman: How come tax refund become the source of income?? Which countries on Earth do follow this practice?? Naturally if you deduct more tax, more refund will be generated, and more refund means more income eventually more tax. Why no one can think straight in India??

@sunil.shegaonkar1 4 ай бұрын

@@RakeshMondal-zs4ym Tax department only run after those who pay taxes, they have no avenues to recover taxes from evaders, Nor they can catch those people in the tax-net.

@fin-o5x 5 ай бұрын

It's approx 32.5% tax

@surinderbrar4249 5 ай бұрын

If a property sold by NRI is not Capital asset, e.x. rural agriculture land then why TDS 23.9% is deducted and then seller have to file ITR to get it refunded. Why it's deducted if it has to be refunded later. Why seller has to apply for NIL TDS certificate from income tax dept to so that TDS is not deducted. Revenue officials should change this practise to make life easy for NRI'S and also stop doing unnecessay work of first deducting TDS and then refunding it.