Repatriation of sale proceeds of property by nri
V.R.Chandrasekhar
(Querist) 12 January 2017
This query is : Resolved
Property was purchased out of remittance received by parents and loan availed as NRI (clubbing both)Loans stands closed out of remittance from abroad.(Entire contribution to purchasing the property was NRI funds).
Now propose to sell the property and kindly advise the procedure for retransmitting the proceeds back to NRI.
IS IT PERMITTED TO CREDIT THE PROCEEDS OF SALE TO NRO ACCOUNT AND REPATRIATE TO NRI SUBJECT TO FOLLOWING THE ITACT FOR CAPITAL GAINS.?
please advice.
adv.bharat @ PUNE
(Expert) 12 January 2017
U cant put this query on CA club of inida.
Ms.Usha Kapoor
(Expert) 13 January 2017
yOU CAN PUT THIS QUERY TO CA CLUB OF INDIA.
Rajendra K Goyal
(Expert) 13 January 2017
You can repatriate the funds subject to Forex limitations after deducting capital gains tax.
