The smart Trick of nri selling property in india tax implications That Nobody is Discussing
The smart Trick of nri selling property in india tax implications That Nobody is Discussing
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Also, the NRI mustn't have multiple house property (Aside from The brand new house), nor ought to the NRI purchase or assemble another household house in two yrs or three yrs.
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NRIs are permitted to transfer property in India to an individual residing in India, another NRI, or an Abroad Citizen of India (OCI). The regulation permits the sale of household and professional properties, whilst agricultural land, plantation properties, and farmhouses can only be bought to residents of India.
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Knowing these nuanced procedures is important to making sure a easy, worthwhile property sale that maximizes returns though meeting all statutory obligations.
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This reinvestment really should come about in just 1 12 months in advance of or two several years following the sale (or within 3 yrs In the event the property is beneath building).
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