Q.1004 Save capital gains tax on inherited property in India

Question: Hi, read an old article of yours about repatriating money from India from a sale of property. My question is - if an inherited property is sold, and if I want to repatriate that money - can I save on paying capital gains by investing the capital gains in a property in India again to avoid the tax? I would still want to take the rest abroad. Thanks jayashree pyarilal Sent from my iPhone Answer: Regarding your question: • Yes! capital gain tax can be saved by re-investing the capital gain from sale of property. • NRI’s, OCI and Persons of Indian Origin [PIO] can repatriate sale proceeds of property they inherit in India. Documentation procedure is similar to my previous article, the only difference for inherited property being the requirement of showing proof of inheritance. Documents such as an Inheritance Certificate / Succession Certificate or Probate along with a certificate from Chartered Accountant in the format required by the authorities. Your CA should be familiar with all this and be able to guide you.
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Inheriting agricultural or other property in India by NRI . . . . . . . Repatriate money from sale of property - Transfer funds abroad
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Disclaimer: Information provided is for general knowledge only and should not be deemed to be professional advice. For professional advice kindly consult a professional accountant, immigration advisor or the Indian consulate. Rules and regulations do change from time to time. Please note that in case of any variation between what has been stated on this website and the relevant Act, Rules, Regulations, Policy Statements etc. the latter shall prevail. © Copyright 2006 Nriinformation.com
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Q.1004 Save capital gains tax on

inherited property in India

Question: Hi, read an old article of yours about repatriating money from India from a sale of property. My question is - if an inherited property is sold, and if I want to repatriate that money - can I save on paying capital gains by investing the capital gains in a property in India again to avoid the tax? I would still want to take the rest abroad. Thanks jayashree pyarilal Sent from my iPhone Answer: Regarding your question: • Yes! capital gain tax can be saved by re- investing the capital gain from sale of property. • NRI’s, OCI and Persons of Indian Origin [PIO] can repatriate sale proceeds of property they inherit in India. Documentation procedure is similar to my previous article, the only difference for inherited property being the requirement of showing proof of inheritance. Documents such as an Inheritance Certificate / Succession Certificate or Probate along with a certificate from Chartered Accountant in the format required by the authorities. Your CA should be familiar with all this and be able to guide you.
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