NRI repatriation
As a resident, my son booked an under construction flat. He intends to migrate and sell it later after getting possession and to repatriate the sale proceeds.
1. Is there any lock-in, or can he sell it any time, after paying applicable STCG/LTCG tax.
2. I presume the proceeds will be placed in NRO a/c. Apart from Capital Gains, is there any other tax further payable in India before actual repatriation such as a withholding tax of 30.09 % etc., as other writers merely refer to other applicable taxes? What other taxes?.
3. Is the present yearly property sale repatriation limit $1 million or $75000?
Thanks
DC Bhargava
