Long term capital gain on sale of property by nri
This query is : Resolved
12 February 2018
Dear Sirs : Good Morning ! One of my client (first party) sold his residential property getting a long term loss of Rs.4,44,000.00. However the purchasing party deducted and deposited TDS of 21 % on full sales proceeds. Now can the first party claim REFUND from Income Tax Department. Further 1) does he has to compulsorily invest monetary proceeds to buy in another house in India 2) Can he invest sales proceeds in his country of origin 3) Can he invest in Long term Capital gain Fixed Depoist Account for three years in India OR his country of origin. FINALLY what implications will arise if he uses sales proceeds in none of above. Kind regards
12 February 2018
In case of long term capital loss file ITR and get refund.
No need to deposit and buy a house in case of long term capital loss.
No need to deposit and buy a house in case of long term capital loss.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- HOUSING LOAN ISSUE
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- ITR 4 and Bank transactions
- IS AUDIT MANDATORY IF COMMISSION INCOME IS MORE THAN 50 LAKH
- Carriage Road Act, 2007 read with Carriage by Road Rules, 2011
- TDS AND ITR ISSUE
- Journal entry of busniess expenses
- Cash balance limit and property purchases limit
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
