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Tax Liability on an NRI on Sale of Under Construction Property

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Tax Liability on an NRI on Sale of Under Construction Property

Last updated: October 16 2015
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  • Tax Liability on an NRI on Sale of Under Construction Property

    Hello

    I am planning to sell my property in Noida.

    90% amount is paid. No bank finance involved.
    All money remitted through NRE or NRO bank accounts held in India
    Property is still under construction and it might take 1-2 years more

    Based on above, I need to know-
    If I sell this property, will there be any LTCG or STCG and how will it be calculated?
    If the amount is paid from NRE account, can I have it repatriated out of India? Partially or fully?
    If I invest this money in buying residential land, will I get any exemption from LTCG or STCG (if it is applicable?

    Looking forward to your valuable feedback

    Thanks

    Vic
  • #2

    #2

    Re : Tax Liability on an NRI on Sale of Under Construction Property

    Originally posted by vmn242018 View Post
    Hello

    I am planning to sell my property in Noida.

    90% amount is paid. No bank finance involved.
    All money remitted through NRE or NRO bank accounts held in India
    Property is still under construction and it might take 1-2 years more

    Based on above, I need to know-
    If I sell this property, will there be any LTCG or STCG and how will it be calculated?
    If the amount is paid from NRE account, can I have it repatriated out of India? Partially or fully?
    If I invest this money in buying residential land, will I get any exemption from LTCG or STCG (if it is applicable?

    Looking forward to your valuable feedback

    Thanks

    Vic
    Hi Legal_Guy; could you help with vmn242018; query
    Last edited October 16 2015, 05:50 PM.

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