sale of property by nri - An Overview
sale of property by nri - An Overview
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Hi! My father inherited agricultural land from his father and crafted a house from the village , away from the farm land and now he has handed away but have mother and need to sell the agricultural lands and possess funds repatriated to U.
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NRIs are usually not permitted to purchase agricultural land in India. On the other hand, when you acquired agricultural land in advance of turning into an NRI or inherited it, you will be permitted to sell it—but only to the resident Indian.
If property is inherited, tax implications will even crop up. In that case, you must remember to think about the day of purchase of the original proprietor when calculating no matter if it’s an LTCG or STCG. In this type of scenario, the price of the property shall be the expense into the earlier operator.
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Comprehending these nuanced procedures is crucial to ensuring a clean, financially rewarding property sale that maximizes returns though Assembly all statutory get more info obligations.
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