My query is that
A Non-resident Indian, has sold his house property in India. He intends to invest in a House in Australia.
1. Can he claim the benefit of Section 54, by investing the amount of Capital Gains in a house located in Australia.
2. Can he Deposit the Cap gain amt in CGAS of banks in India before filing his return.
2. Can the money from the CGAS be utilised by him to repatriate money abroad for purchase of the property. IS this allowed as per RBI/ CGAS scheme ?
thx
Regards
Soumya Nichani.
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CAclubindia
