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 1 year 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
1128 Answers
5.0 on 5.0
  Talk to Shyam Sunder Modani
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
  Talk to Vijay N. Kale

Ask a Question

Get tax advice from top-rated chartered accountants. It's quick, easy, and anonymous!
Ask a question

Other Questions

Chartered Accountants

Rohit R Sharma
CA, Mumbai
986 Answers
5.0 on 5.0
Abhishek Dugar
CA, Mumbai
994 Answers
5.0 on 5.0
Shyam Sunder Modani
CA, Hyderabad
1128 Answers
5.0 on 5.0
Vishrut Rajesh Shah
CA, Ahmedabad
384 Answers
5.0 on 5.0
Pradeep Bhat
CA, Bengaluru
180 Answers
5.0 on 5.0
B Vijaya Kumar
CA, Hyderabad
405 Answers
5.0 on 5.0
Vishakha Agarwal
CA, Bangalore
303 Answers
5.0 on 5.0
Lalit Bansal
CA, New Delhi
130 Answers
5.0 on 5.0
Vidya Jain
CA, Kolkata
77 Answers
3.9 on 5.0
Shiv Kumar Agarwal
CA, Delhi
197 Answers
5.0 on 5.0