Long term capital gain on sale of property by nri
This query is : Resolved
PARDEEP KAPIL
(Querist)
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
CA R SEETHARAMAN
(Expert)
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Employee secondment
- Ito add credit side of bank
- Applicability of tax on invoice
- Rectification under processing even after 6 months cpc portal
- Form 144 TDS Return Validation error
- GST ITC as per notification 12/2023- central tax
- Import of Capital Machine
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
