My son is NRI. He would like to dispose the immovable property purchased through NRI funds. The value of the land is 28 lakhs. Three years back he had purchased for 25 lakhs. What is the tax liability and how can he send back to USA. Please guide.
1 Replies
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(184708 Points)
Replied 26 April 2019
As such capital gains liabilty works out to be nill. But as NRI he will need to file ITR.
He may also apply for non deduction of TDS u/s. 197.
For repatriation of funds he will be required to hire CA.
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