As per Indian Income Tax laws, any payments made to Non Resident is liable to withholding tax at the rate specified on
the total sum to be paid. The withholding tax rate in case of capital asset which is held for more than 36 months is 20% plus
applicable surcharge and cess. However, the law provides for the procedure of making an application to the tax authority to
restrict the tax deduction only to the portion of gain instead of complete sale value. Hence, it is very important for every
Non Resident who sells their Immovable Property in India to following the right steps under the expert advice.
The tax law also has several reinvestment options to reduce the possible tax liability. Hence, once you have identified the buyer and crystallized the selling price, you should ideally follow below steps:
Our team is vastly experienced in advising and assisting Non Residents on this subject from start to end at each step of the execution. In case you need any further information on this, write to our expert on firstname.lastname@example.org
All the contents of article are only for general information or use. They do not constitute advice and should not be relied upon in making (or refraining from making) any decision. Kamdar Desai & Patel hereby excludes any warranty, express or implied, as to the quality, accuracy, timeliness, completeness, performance, fitness for a particular purpose of the Site or any of its contents, including (but not limited) to any financial tools contained within the article. Kamdar Desai & Patel will not be liable for any damages (including, without limitation, damages for loss of business projects, or loss of profits) arising in contract, tort or otherwise from the use of or inability to use this article, or any of its contents, or from any action taken (or refrained from being taken) as a result of using this article or any such contents. Kamdar Desai & Patel makes no warranty that the contents of the article are free from infection by viruses or anything else which has contaminating or destructive properties.