Q.1245 How to Find information

easily on NRI Information - Sale

of Immovable property in India

Question: Dear Sir, My brother of Indian origin, now a Canadian citizen, has inherited a property (built on 5400 sq yd plot, at a cost of around Rs.7.5 lakhs) in India, which was built by his father in 1967. He is now selling the property. He has opened an NRO/NRE account in an Indian Bank. He also has a Indian PAN card. In this connection, i have following questions : 1. Is he liable to pay any capital gain tax in India ? If yes, how to calculate the capital gains. 2. Is the buyer of the property liable to cut any TDS ? If yes, how much. 2. How to transfer the money to Canada, as he is now permanent resident of Canada. 3. What would be the tax liability in India, for transferring the sale proceeds to Canada. 4. Is he liable to pay any tax in Canada. 5. Does he require an Aadhar card for carrying out any of the above properties. I shall grateful for your a quick response. He would like to be on right side of the law. Thanks Answer: Most of your questions are already answered on NRI Information website. You need to devote some time to search for the article. For information on tax in Canada check with Canada Revenue Agency or the CRA website. As far as Aadhaar card, since non-residents are not eligible for Aadhaar, they are exempt from producing Aadhaar.