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
1366 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

Abhishek Dugar
CA, Mumbai
1699 Answers
5.0 on 5.0
Rohit R Sharma
CA, Mumbai
1542 Answers
5.0 on 5.0
Keerthiga Padmanabhan
CA, Greater Mumbai
401 Answers
5.0 on 5.0
Lakshita Bhandari
CA, Mumbai
131 Answers
5.0 on 5.0
B Vijaya Kumar
CA, Hyderabad
616 Answers
5.0 on 5.0
Lalit Bansal
CA, New Delhi
240 Answers
5.0 on 5.0
Shyam Sunder Modani
CA, Hyderabad
1366 Answers
5.0 on 5.0
Pradeep Bhat
CA, Bengaluru
334 Answers
5.0 on 5.0
Vishakha Agarwal
CA, Bangalore
402 Answers
5.0 on 5.0
Shiv Kumar Agarwal
CA, Delhi
225 Answers
5.0 on 5.0