Dear friends
An NRI has a house property in India. Is it possible for him to sell this property to another NRI? If yes whether TDS is applicable and at what rate?
3 Replies
Dheeraj
(Learner)
(1100 Points)
Replied 04 February 2013
Yes an NRI can sold his property to anybody (including NRI)
and TDS is not applicable on capital gain (excluding bullion, jewellery)
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 04 February 2013
FEMA allows an NRI to sell an residential house property to another NRI.
But as per amendement to income tax act, it has been made very clear that TDS shall be applicable on paymenets made by NRI to another NRI.
Anuj
femaquery @ gmail.com
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