I own a freehold property (independent house) in DLF city in Gurgaon, purchased in dec 1992 when I was an indian citizen residing in India. In 1993 i immigrated overseas and became a citizen, so am now classified as NRI/PIO.
I am now in the process of selling that house, and through this site have been made aware of the different documents that need to be provided to the prospective buyer. I would appreciate if any expert would specifically help in answering the following two questions:
1) The buyer is asking for a copy of my foreign passport? Is this a legal requirement? As i am prepared to provide proof of my foreign address and my PAN card, is this not enough?
2) What documents/forms/clearances, if any, do i need to provide the buyer so that no TDS is deducted from capital gains at the time of execution of the sale deed. I don't intend to invest the money in any real estate but would be buying capital gains bonds and repatriate the balance after paying the tax due on the capital gains.
Any help will be greatly appreciated!
Thanks - NB
