Long term capital gain by nri below exemption limit
This query is : Resolved
19 January 2012
Dear all
my friend want to sell his house in 2012 which was purchased in 2005-06 and he had long term capital gain and he do not have any other income .Is he liable to pay tax even if he dont have minimum income chargable to tax ?
my friend want to sell his house in 2012 which was purchased in 2005-06 and he had long term capital gain and he do not have any other income .Is he liable to pay tax even if he dont have minimum income chargable to tax ?
20 January 2012
yes. Min exemption limit shall not be available for LTCG to NRI.
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