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NRI - long term capital gain@ 20% tax vs minimum threshhold limit
Sir. NRI having Residential Property in India and subsequent sale made resultant in to capaital gain, and he has income only from sale of such residential property with no other income, hence I hope he is not eligible for that minimum thresh hold limit to be setoff against such capital gain, whether my understanding is correct?
Replies (1)
Yes, you are correct...
Non resident do not have the option to adjust their capital gains against the basic exemption limit of Rs 2.5 lakh.
Non resident do not have the option to adjust their capital gains against the basic exemption limit of Rs 2.5 lakh.
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