Non-resident Indians (NRIs) frequently invest in real estate in their home country for diverse purposes, such as future retirement, generating rental income, or capital appreciation. However, when it comes time to sell these properties, they can encounter intricate tax implications governed by Indian tax laws.
Understanding the nuances of Indian tax laws on property sales is vital for NRIs to prevent costly errors and ensure adherence to legal requirements. It is important to note that the tax implications for NRIs selling property in India differ from those applicable to resident Indians.
NRIs must navigate taxes such as capital gains tax, withholding Tax, and other levies that may be applicable when selling property in India. Additionally, they must comply with regulations concerning the repatriation of sale proceeds and certain restrictions on the type of property that can be bought or sold.
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