Nri capital gain tax query
Mark
(Querist) 17 July 2012
This query is : Resolved
Hi,
I had a query I am a NRi and posses a NRO account.
I had purchased a flat in Mumbai in 2004 for 26 lacs now I am selling it for 95 lacs. At the same time I purchased an under construction house in June 2010 and will get possession in April 2013.
I have already paid the stamp duty and done registration of my new house in 2010 and taken a partial home loan from HDFC for the same but not got possession because of delay from builders side.
Now if I sell my first house to resident Indian today July 2012 and use the entire money towards paying back the new home loan do I get benefit of capital gain tax?
Will the buyer deduct any TDS in that case.
Please help.
Thanks.
Mark
Nadeem Qureshi
(Expert) 17 July 2012
Dear Querist
you should contact a tax advocate
