Capital gain & tds provisions on nri

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 October 2016 Dear All,

What are the provisions applicable on sale of long term asset by an NRI individual & how TDS refund can be claimed?

KAVIRAJA ADDANGADI

KAVIRAJA ADDANGADI (Expert)
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28 October 2016 Long term CG in case of NRI tds will be deducted@ 20.66% on sale consideration. In order to claim exemption assasee has to invest on property, CG exemption available only one property.

If gain is invested in CG Bond, subject to maximum 50 lakhs locking period of 3 years, if same is shown in tax return if Taxable income is nil or reduced to extent of exemption. Excess tds deducted can be claimed as refund.