Sell the property: Will I get the full amount?

The entire amount of sale proceeds net of tax may be repatriated.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead Masteryourmoney Earnings
moneycontrol.com

Home » News » NRI Experts

May 28, 2009, 06.07 PM | Source: Moneycontrol.com

Sell the property: Will I get the full amount?

The entire amount of sale proceeds net of tax may be repatriated.

Like this story, share it with millions of investors on M3

Sell the property: Will I get the full amount?

The entire amount of sale proceeds net of tax may be repatriated.

Post Your Comments

Share Cancel

Sell the property: Will I get the full amount?
Our expert, Sandeep Shanbhag asnwers all your questions on repatriate of sale proceeds.

If I buy a property in India using funds from my NRE account and sell the property at a later date am I allowed to repatriate all the sale proceeds (principal + appreciation) to UK. Or is it that I am only allowed to transfer the initial investment and not the gain.

I have had conflicting opinion on this. Please advise what the law allows. Even after paying capital gains tax on the profit the remainder cannot be transferred?
-- Sohani

The entire amount of sale proceeds net of tax may be repatriated. When you sell the property, depending upon your holding period, you will earn long term or short capital gains.

The net proceeds post tax payment may be remitted abroad. You will need to submit to the Bank a certificate from an Indian Chartered Accountant certifying the fact that the tax payable on the transaction has been provided for.

The writer is Director, Wonderland Consultants, an investment and tax advisory firm. He may be reached at sandeep.shanbhag@moneycontrol.com

More for NRIs:
Do I need to submit Form 15G?
TDS : Tedious for NRIs
10 minute guide to housing loans in India
Staying away from India; where do I pay tax?

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Sell the property: Will I get the full amount?

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login