Remittance to NRI son his inherited share of property

Chinnappan D M (Consultant) (96 Points)

16 July 2010  

I sold a self aquired property and I wish to share the property sale proceeds after adjusting Long term capital gain. After investing the amount in another house towards LTCG, I wish to remit the funds to my NRI son towards his share of inheritance. Can i remit his share to his country of domicile? If so are there any taxes to be paid before remitting to my son who is a non-resident. Is there any limit in such remittance. Can any one clarify this point pl.

 

Thanks in advance

Chinnappan D M

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