03 March 2009
ram nayakh as accured U.S. citizenship. he has house property, urben land,lented buildings in india. he want to dispose them .wil it atracts IT?
03 March 2009
yes, It will attract Capital Gain, depending on holding period i.e Long Term or Short Term, and if falls under the provision on 115E than LTCG will be chargeable at 10%. Capital Gain is to be computed as provided from Sec 45 to 55.
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