Capital gain tax as NRI

I purchased a under construction property when I was a Indian citizen with home loan. At that time I was the sole applicant on the loan documents  and purchase documents. Now I got the property after 4 years and I have to register it. But in the meantime my status changed to NRI. Now my queries are
1. Can I include my mom as coowner mith majority of shareholder while registering it.
2. If not then who else can I include as majority shareholder like wife
3. How much tax (% ) I have to pay as tax if i sell it after registering
Asked 2 years ago in Capital Gains Tax from Noida, Uttar Pradesh
You need to register on your own name. If you include wife also then clubbing provisions will apply.
For taxability we need more info like the date of possession etc. If it is more than 3 years then the tax rate is 20% after calculations as per iT act.
Shyam Sunder Modani
CA, Hyderabad
1343 Answers
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1. yes but why.
2. wife also can be included.
3. long term  capital gains are taxable @ 20.6%
4. Short term copital gains are taxable at applicable rates.
Vijay N. Kale
CA, Hyderabad
248 Answers
4.9 on 5.0
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