We purchased(Joint ownership ) residential land in Hyderabad, A.P. in 2001 with foreign funds. Since we do not own a house in the united states and India and want to sell the property and purchase a primary residence in USA with those sale proceedings.
We would like to know how much of that sale proceedings to be repatriated without tax on captial gains, since we are buying a house for ourselves. There are some instances, got the RBI permission to do so without any tax obligation. We would like to to know how much money we can repatriate without capital gains tax to buy primary residence in USA within 12 months.
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