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d c bhargava (NA)     31 March 2014

Nri repatriation of sale proceeds

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



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