Q.1075 Hold property in India

after giving up Indian

citizenship

Question: Hello Mr. Chand I am Indian passport holder & living in Canada since 2011 as Permanent resident. If i give away my Indian citizenship & take Canadian citizenship. 1. Can i still hold a residential property in Delhi as an owner? 2. In future can i sell it as a Canadian? please help me get some answers. Appreciate your time & thank you. Regards Answer: Regarding your questions: 1. Yes! you can continue to hold residential property in Delhi, India or anywhere else in India even if you give up your Indian citizenship and take Canadian citizenship 2. Yes! you can sell your property in future when you desire. Being a Canadian citizen will not make a difference. o The only difference is the TDS held on sale of property by an Indian citizen or a non resident. A higher TDS is withheld when NRI property is sold but In the end it works out to be the same as the excess TDS is refunded when tax return filed. o To avoid higher TDS applicable to NRI property sales in India, an exemption prior to the sale may be sought in some cases from the Indian income tax department. Your CA or tax accountant should be able to guide you in this regard.