Real estate solutions in one click The mere acquisition of property does not attract income tax. However, any income accruing from the ownership of it, in the form of rent (if it is let out)/annual value of the house (if is not let out and it is not the only residential property owned by that person in India) and/or capital gains […]
Read MoreThe Government of India has granted general permission for NRI/PIO/OCI to buy property in India and they do not have to pay any taxes even while acquiring property in India. … Rental income earned is taxable in India, and they will have to obtain a PAN and file return of income if they have rented this property.
Read MoreIf you sell a property after three years, the profit is treated as long-term capital gains and taxed at 20% after indexation. … The owner can claim various exemptions in case of long-term capital gains, but no such benefit is provided for short-term gains
Read MoreYes. Long-term and short-term capital gains are taxable in the hands of non-residents.
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