Tax Implications Of Property Transactions In India For NRIs CA SS Nayak

[@pankajt1775]

Very clear guidelines and education on rule of FEMA and Taxation on immovable property transactions by NRI. Thank you such great information.

[@samjeypaul]

I think Mr Chandrakanth is amazing , always asking the right questions

[@ramasubramoneyp4789]

Thank you Dr Bhatt . Excellent clarifications.

[@harishpatel929]

Can you please make a video on Agricultural Land owned by forefathers of an NRI / entrusted property . As the NRI is a Kishan, can he buy a piece of agricultural land further

[@PadsRamesh]

Answered all the questions with great clarity. Thanks so much

[@hameedhussaini4041]

Thank you for your efforts and highlighting the important information

[@jb28010]

Thank you dr saab for such great videos, I have watched many so far. Could you please mention things about OCI’s as well I get confused between NRI AND OCI. Some of us are foreign citizens. Are OCI are treated same as NRI in Indian system ? NRI could be Indian passport holder but OCI isn’t .

[@Punch8721]

My understanding is that for Tax purposes there are 2 categories. The first is Resident in India and the second is Not Resident in India. The person's citizenship is immaterial OCI is a permanent Visa for Persons of Indian Origin who are not Indian citizens.

[@bharateeyudu5519]

Thanks for the video. Please make a video about situations of sale of inheritance property

[@AnjayKm]

This is outstanding, thanks for explaining this with such clarity.

[@nagukrithi5990]

Sir, can you please have a video on repatriation of money back to foreign country after the sale of the property ? What are the restrictions and limitations to repatriate money back to foreign country after selling property ( eg. how much money can be repatriated, how many properties can be sold, and also about inherited property sale )

[@prabhusow]

Sir i would like to request the details for the same question. Please advise

[@dhiirenpanchaal5732]

I would also like to know details for this type of transaction

[@shivaprasad7111]

Maximum 1 Million dollars in a tax year. No more than 2 properties per owner. Inherited property can be sold same way as self acquired, except that it will be indexed from date of inheritance.

[@PD_incredible]

Very informative but it would have been if all these complex calculations could have explained with some examples. Thanks

[@pixbuff]

US tax laws does not take into account capital gains relief in India. You may defer capital gains in India, but Capital gains must be paid in US for a US citizen. No provision for deferment by buying bonds or reinvesting in another property in India. Not sure how other countries honor the deferment in India.

[@gkm202]

How many times such tax benefits can be availed (if someone who is an NRI /OCI who sales multiple properties and re invest in new properties)?

[@donsaransh]

As NRI, If we buy a property, can we claim the TDS charged by the builder when we file the ITR?

[@thefrugalcitizen]

Hello Sir, Great Video. Could you please help with my below queries? Is TDS on Capital Gain or entire Sale Value? Is the tax according to the individuals tax slab? Does NRI pay higher tax than resident Indian in effect?

[@venkatrajeshwar290]

Great information to layman. 🙏

[@vivekbhardwaj3357]

Thank you very much for precious info.

[@kavitadjoshi]

Could you please, clarify about the tax implications about sale of inherited agriculture land ?

[@panimeda245]

This looks easy . It took 15 days for an NRI to open a normal NRO account that is the system we are working in.

[@sumangalgandhi4608]

very nice info shared from professional source, could be better show form nos on screen in 1 corner. thanks

[@donaldlewis1913]

very informative, many of my doubts are clear now!

[@madhusudanlokhande4290]

This video is very informative.Thanks

[@johnydesparado123]

and they wonder why no one wants to pay tax

[@geetakaicker2815]

The video became audio only midway😮 the content is helpful

[@bigscene100]

Hello- the capital gain from an investment property, can I use to construct a new 2nd floor on my primary property? Will it qualify as reinvestment?

[@arpanasingh7883]

In case of loan, will bank deduct tds of 20 percent then make payment DD of seller?

[@ezorefut3942]

for an NRI holding property jointly with a sibling where the sibling is not an NRI, what are the tax implications if such a property sold?

[@mehvarrahpish6178]

Thanks for your valuable guidance

[@panimeda245]

If the banks give this much trouble think about how the registrar’s office will do then deal with the income tax dep and the all the too good people in the line of command.

[@villoochoksey2775]

Suppose the assesse passes away before the expiry of the 5 years of the capital gain bonds, can the legal heirs withdraw them

[@mazharkhan2001]

Dear sir What if one wishes to pay stamp duty more than the guidance value

[@cookmaster3626]

Here is my question. I sell my property to a builder / developer, who wants to develop a set of flats. The builder gives me a consideration and takes a POA from me and doesnt physically register the property in his name but registers eventually to each flat owner as an undivided share of land aka UDS. The builder may sell the UDS at a higher price than my sale consideration. for tax purposes, how does ITO calculate the sale consideration. Is it based on the consideration i entered when giving the builder / developer the POA or the final buyer of UDS what they paid.

[@sdnagaraja]

If NRI invested in Flat and sold even before completion so it's not registered in his name. What are the Income Tax implications ?

[@shirazkhader3481]

Thank you very much.

[@sulabhaharwalkar295]

Pl make a vide on the effects of a person in India , if he takes citizenship in US!please explain about his pention income in India and his investments in India such as FDs in bank,mutual funds in India and Investment in private companies in India!

[@dbhhattac]

What will be the tax if a NRI inherits sekkd without living st thr property at all?

[@anjalipatel2583]

The capital gains account has to be constructed or purchased in India?

[@nitingarg966]

Another knowledge medicine Dr Bhat, thank you very much. Few questions: 1. How the taxes are handled if property is jointly owned between son (nri) and mother/father(Indian resident) 2. Can the proceeds after selling and payment of all taxes can easily be transferred from nro to nre account (by filling all necessary forms as per your other video)? 3. What is the surcharge value on capital gains less than 50 lac?

[@vish6306]

1. All owners must sign or somebody must have the Power of Attorney for the other owners to sell the property. TDS tax rate is not affected. Sales proceeds and TDS are usually divided and distributed according to the percentage share of each owner. So each owner may have to file a separate tax return in order to get a refund. 2. Cannot transfer from NRO to NRE account. Never allowed.

[@nitingarg966]

@@vish6306 I think ur response to 2nd question is not correct. There r some forms to be filled and then transfer can be done from nro to nre

[@vish6306]

@@nitingarg966 Try to transfer even Rs 100 from your NRO account to your own NRE account in the Same Bank. Even then it will not be allowed. You can try this experiment if you have both NRE and NRO accounts in the same bank. NRE to NRO is one way transfer only. Cannot go back from NRO to NRE. I don’t know of special cases and special forms to do this. Contact the bank and ask them.

[@vish6306]

@@nitingarg966 You can do it indirectly. Transfer from NRO to foreign currency abroad. Then bring it back into NRE account.

[@jitenchavda4834]

Nitin is correct you can transfer from NRO to NRE ACCOUNT in same bank by filling the Forms 15CA and Form 15CB by the Chartered Accountant.

[@lalitmohanarora4818]

Is the tax and surcharge on the “gain” OR the “sale” price?

[@sanghametrology4656]

I am NRI. I have a business here and make yearly tax returns. I also have my penssion plus some rents in uk. I also make tax returns in uk. I pay my tax as per uk tax laws. I am now told that I also have to pay tax in India. I pay some 1000 pounds tax in uk. Indian tax on this amount is 18 lakhs. I am told that I have to pay 17 lakh. Is this correct. 11:24 11:26 11:28

[@prime8krish]

Thank you, as always amazing content. what are the TDS rules for Rent when the owner is NRI?

[@vivekumenon]

Am also interested to hear from you on this question . Can you advise @admin

[@jesh-ik5qh]

Tds 31.2% paid by tenant to govt. Rest to landlord. Landlord to get refund in it return

[@srikanthpadava3834]

Is it mandatory for the tenant to pay this to IT (even if total income in the year is less than 2.5 lakhs)?@@jesh-ik5qh I am asking as i know many many friends (NRIs) who are receiving rents, but not a single tenant i know is deducting TDS

[@gunaarokiadass8591]

To be more specific, from October 1st,2024, if its a commercial property rent GST is applicable

[@ramilalala6633]

What is the taxation on property of passing on death of person????

[@SettyS2011]

Great content. Thanks for this video.

[@sulabhaharwalkar295]

Please make a video if a person takes citizenship in Us, what effects will be there on his investments in India such as bank FDs, mutual funds, private companies Fds

[@khukha6448]

Very good video. I would like to know if the tax exemption is valid. Let me explain the scenario with a example. If i sell a property for say 85 lakh (purchase price 10 lakh) and ignoring the indexation calculation i invest 50 lakh in bonds (54 EC), i have to pay capital gains tax on 25 lakh. As a citizen of another country which has DTAA with India i need to file my returns. Should i be showing gains of 75 lakh or 25 lakh?

[@shivaprasad7111]

DTAA includes relief from capital gains in India. Unfortunately DTAA does not extend to same relief from the host country. Thus reinvesting in property in India or bonds does not get the relief in USA per IRS. Not sure about other countries

[@ananthu1996]

is there a new rule regarding sale of property by NRI and keeping large amount of money in the bank in India

[@drasharish]

54 EC Bond interest rate is 5%.

[@vidplush67]

What is the tax rate for the property acquired from my father which was bought before 45 years and transfered in my name in the year 2005

[@sanm4836]

Property inheritance does not affect the property valuation. It means that even if you inherit the property, it is still valued same as if your father was still holding it.

[@j.r.6517]

Very informative. Thanks 👍

[@wasifraza7994]

Thank you for your this great initiative of arranging answers for different conditions for NRI house transaction. I request your response of my query that can I get exemption of tds deduction if I decide to invest entire long term capital gain in govt. tax saving bond OR I will have to invest in capital gain bond from sales proceed and then claim refund after filing tax return as buyer will have TDS already deducted from sale proceed. Raza

[@Sunshine-mn4yf]

Very good explanation

[@10X_Brain_Time]

Tax&SurCharge is on the Sale price or the Again ..?

[@INSBABU]

NRE lives in india more than 182 days has uae work permit resident visa and works from home gets salary in his uae bank account , whether he is NRE or Resident?

[@rambond7539]

One simple question when I am selling the property should buyer deduct TDS on gross amount or capital gain?

[@shivaprasad7111]

Gross amount if seller is NRI. (23%). Only 1% if it is from a resident.

[@paulcherian4144]

I would like to know the following information. Does an OCI need to have a PAN card? If so what are reasons for it?

[@vish6306]

PAN is a must for TDS and filing a tax return.

[@dhirenshah3593]

Very informative. 👍

[@sureshprasadsharma3125]

Suppose I invest entire amount of capital gain upper limit Rs 50 lakh in bond. then also tax has to be deducted at source by purchaser. I will show proof of investment in bond to IT authority. Pl enlighten.

[@bs7548]

Hi Mam , I am NRI , I recently purchased one property more than 90 lakhs and the seller is Indian , what if i don't deduct the 1% TDS , what is the penalty for me ?

[@mehvarrahpish6178]

Can you make videos on DTAA rates i e. Double tax avoidance agreement with regard to UAE. Kindly cover the topic LIC monthly pension plans and applicable DTAA rates with UAE as resident country

[@sanjeevgupta178]

Can nri open capital gain account in india

[@galabaga]

What about sale of ancestral property by NRIs. What are the stamp fee and taxes applicable.

[@shivaprasad7111]

Capital gains to be paid of (sale price - minus indexed price from date of inheritance). Long term of 23% of capital gains. Inherited 3 years prior.

[@shivaduvvuru]

Very good

[@vinayashastry6156]

Very helpful.

[@covidwarrior2808]

How is nri allowed to buy a property.

[@kernainstruments1248]

As far as I am aware for NRI the tax is on the complete value of the property, not the Gain? Please clarify

[@robshastri1346]

Tax on complete value UNLESS you get Form 13 TDS clearance from Tax Dept

[@maziz6237]

Empirical Formula: Process is directly proportional to the character of the govt. serVant at the helm of these transactions. You will be lucky if you find such rare gem in these services. Mostly you have to loose some time / bucks😢 to go through any such laws in real estate market. You will not be allowed to stand few minutes@desk to get Real-time information ….But anyways grea8 to have some theoretical knowledge on the complexities for honest people in RE market and Taxation system. Dishonest chaps have multitudes of channels and way outs .

[@agya.psingh5150]

Please answer this question when convenient. I have a plot for which I was given a Registered power of attorney in 2008 Now everyone is suggesting me to get the proper registry done by paying stamp duty and other charges for the safety. If I do this on my wife’s name I save 2% Also since the attorney is on my name I can’t do the registry on my name. Just want to make sure that if this sale deed is to my wife’s name and there is no money transaction then I am not obligated to pay Nri tds. Of course when my wife will sell them we will pay Nri tds since she is Nri too

[@mathaikuttychankurayyathu3986]

If an NRI/ RNOR sells to a buyer a property received as gift from his parents, at a price not less than the standard price fixed by the revenue department, whether such income is taxable? I shall be grateful if my question is answered through your video.

[@shivaprasad7111]

Property sale is taxable. Property value is indexed from date of inheritance. If parents sell property and pay the capital gains. The proceeds after capital gains can be inherited without additional taxes.

[@mayilmuruga78]

Can you please clarify, Is the TAX on total sale price (Purchase price + Gain)? OR only on the Gain/Profit (Total sale price MINUS purchase price)?

[@vish6306]

Capital gain.

[@sanm4836]

Access only on the game no remember your purchase price has to be indexed which means that it has to be adjusted for inflation show purchase price of one lack in 2001 is equal to a index purchase price of 33 lakhs in 2018

[@dr.sanjaydalal7995]

If inherited property is belonging to 1 Resident Indians & 1 Non resident Indians ( Brothe & Sister) what happens in Property Transaction ?? Tax & Stamp duty

[@shivaprasad7111]

POA by NRI to resident sibling. Only 1% TDS. As long as you can trust sister to give your share.

[@chandraaiyangar7956]

How long can the seller park the capital gains in capital gains account? What if he does or can not invest in a new property within the stipulated time? Does he have to pay capital gain tax at the time of closing the capital gain.account??

[@shivaprasad7111]

Exemptions from your Gains that Save Tax Section 54F (applicable in case its a long term capital asset) Purchase one house within 1 year before the date of transfer or 2 years after that. Construct one house within 3 years after the date of transfer. You do not sell this house within 3 years of purchase or construction.

[@anitakale7506]

We are buying a property shortly in which contribution from my NRI son is around 45% from my Husband around 25% and from me 30%. Stamp duty is to be paid on total price @7%. Whether this Stamp Duty needs to be paid in same ratio % as per ownership contribution or Stamp duty can be paid in lumpsum by NRI son? Also please clarify whether TDS to be deducted as per respective contribution and to be paid on income tax site against respective PAN. Also whether TAN is essential for deducting TDS. Awaiting your reply. Any other special conditions to be fulfilled when the ownership is with two Indian Resident and one NRI person

[@anandalbertdsouza4277]

Sir if it is inherited property (thru will) from parents to thier children and is jointly held by them. If some are NRI and others are resident then is the buyer suppose to deduct 20% only of the NRI part. Is it a correct understanding.

[@shivaprasad7111]

POA can be given to residents. TDS is just 1%. POA can only be given Parents and siblings. Otherwise 5% stamp duty applies.

[@ordinaryman1603]

Sir, if NRI with OCI (foreign citizen) applies for a new PAN online, does the PAN be part of International Jurisdiction by default?

[@shivaprasad7111]

Only . If permanent address is foreign.

[@androidphone6972]

THE PRACTICAL SOLUTION: When you decide to move out and settle down abroad, sell every freaking immovable asset and then, fly. Managing assets in india with hope that some friends will help is a super bad bet Relatives are crocodiles, less said the better Now the cherry on top: mafia land grabbers. Court cases and headaches. How slow the system is, we’ll known fact established by Sunny paji “Tarik pe Tarik “ Excellent channel Thank you for doing this video. Very insightful on tax implications and procedures. Bookmarked for future reference

[@joyp2383]

Wow 😮 So in summary NRIs are penalized for investing money in India and has to go through a such great hassles of tax process.

[@JoeC5050]

yes.. looks like it.. Investing in India is horrible now. But I wonder how money still flows to India!!!

[@prakashnair5519]

Not clear...could hav been easier to understand with some examples

[@abdulwahidali1058]

You have forgotten to ask the following question In case both the buyer n seller are NRI’s and they want to do the transaction as a gift but actually they will arrange the payment in their respective currency and in india they want to register as gift just to avoid any money transaction is it possible?? If it is so then what will be the implication of registration charges and IT ?? Pls explain as there are lot of such cases

[@pankajt1775]

When you mentioned Gift assumption you understand gift only happen in defined relation. The gift tax rule apply . Still you have to pay registration and stamp duty on the value not less than guidance value.

[@mathewv27]

If the seller and buyer are NRI, how the buyer has to take TDs? There is no problems with repatriation on money I think so.

[@dr.sanjaydalal7995]

How can NRI repatriate Money you get by selling propertry in India !?

[@kr9c]

Intro seems to short for the guest doesn’t do justice

[@shivbaba2672]

Obviously you loose money when you try to sell big properties in india itsel . Hardly you can find a buyers with clean cash . Besides hiden taxes will be a burden .whereas if you invest it in india your money can double in a few years. And if you invest that in western countries for the next two decades except 5% inflation.which means in 10 years you will loose almost 50% of your asset .and if you leave it as it is you may get from 100 to 200% in return

[@10X_Brain_Time]

So the moral of the story is if you are NRI then you will loose 50% of invested if buy and sell property in india ..

[@anubhavsharmaice]

Your calculation is completely incorrect

[@dredercollen4919]

That shows you have not heard what these informed persons talked for over 23 minutes and you are a born hater and anti national muslim

[@pankajt1775]

There is nothing different calculation procedures for NRI when they sale property. Only difference with TDS by buyer for any amount in transaction. For calculation of taxes based on capital gain is absolutely same for both Resident seller or NRI seller .

[@josejoseph5069]

😅😮😅😊😊😊😅😅😮😊😊😮😊😊😊😊😅😅😊 10:46 😅😅😊😊😅😮😊😅the 10:46 ❤

[@satviklifestyle]

Yes you are correct. Regardless you loose tons on repatriation

[@nishantchander]

Too much technical sir . No shame , couldn’t understand anything.