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Treatment of Capital Gain/Loss in case of NRI

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(Querist)
14 July 2022 What will be the tax implication if a non resident Indian (now a Canadian citizen) sells land in India for Rs.5 crores? Should TDS be deducted by the buyer? Can he deposit the sale proceeds in his NRE Account in India?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
14 July 2022 1. Yes, TDS will be deducted by buyer.
2. No. It can be deposited only in NRO account.

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