12 May 2011
Dear Sir, I need clarification in the following case: An Indian Citizen settled abroad,i.e. Non resident Indian (got citizenship of the foreign country) has sold his house property in India.how the capital gains should be taxed in the hands of NRI.Whether Indexation Benefit is available or not.At what rate the capital gains should be taxed. Whether exemption u/s 54,54EC is available.
13 May 2011
CAPITAL GAIN WILL BE TAXED IN INDIA INDEXATION BENEFIT WILL BE AVAILABLE TAX WILL BE LEVIED AT 20 PC EXEMPTION WILL BE AVAILABLE UNDER SECTION 54/54EC PROVIDED CONDITIONS SPECIFIED THEREUNDER ARE SATISFIED CA MANOJ GUPTA JODHPUR 09828510543
CAclubindia
