Income in NRO account is exempt from tax.
But if a nonresident purchase and sells a property in India, then what about arising LTCG in NRO account.
Is it taxable?if it is then at which rate?
What if it is STCG?
1 Replies
Raphael
(Chartered Accountant)
(214 Points)
Replied 08 January 2015
As per my knowledge any income from NRO account is taxable in India whereas any income from NRE is non-taxable as per 10(4)(ii).
Any capital gain arising from a property situated in India is taxable in India as per Sec 9. If the DTAA with any country allows any relaxation in this respect then a non-resodent can avail such relief. But as far as the DTAA that I have come across, no such clause have been mentioned.
Hope this helps you.
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