| Author | Message | ||
     Entikaburlu Side Hero Username: Entikaburlu Post Number: 9329 Registered: 07-2011 Posted From: 67.247.83.224 Rating: N/A |
does he/she have evidence that it is bought via an external remittance, if so. it is possible. All Class Notes -> https://twitter.com/#!/EKSWAcademy all opinions expressed are mine and only mine. not to be attributed to the other IP address sharers, my employer, or any other human, animal, robot or alien. | ||
| Entikaburlu Side Hero Username: Entikaburlu Post Number: 9328 Registered: 07-2011 Posted From: 67.247.83.224 Rating: N/A |
there are a few factors. as far as i know: you can repatriate (1) if you bought it originally using external remittance eg through an NRE/NRO acct and not an agri property (2) it is an inheritance. in all other circumstances, you need an RBI permission. all issues are on Indian side only. in USA, just declare the capital gains and pay tax. All Class Notes -> https://twitter.com/#!/EKSWAcademy all opinions expressed are mine and only mine. not to be attributed to the other IP address sharers, my employer, or any other human, animal, robot or alien. | ||
| Filmbuff Junior Artist Username: Filmbuff Post Number: 59 Registered: 11-2011 Posted From: 203.83.248.37 Rating: N/A |
Just to clarify to get your thoughts, a) it will be a plot and b) all money will be white. | ||
| Whyme Junior Artist Username: Whyme Post Number: 882 Registered: 09-2009 Posted From: 66.20.189.207 Rating: N/A |
depends upon how much money you want to bring back.. Generally I think when you dispose the property in India, you can atleast bring back your investment and the profit you made on the sale you are better off investing it again in India.. But if you can bring more legally then great.. any more light on this | ||
| Dma Side Hero Username: Dma Post Number: 5598 Registered: 11-2009 Posted From: 64.134.237.119 Rating: N/A |
It depends on a lot of factors. In an easiest case: - If he were to be an NRI with GC/Citizenship, - If he buys a non agricultural property, YES. He can buy and sell. All the white money can be easily transferred and you will have to pay them as long term gains or short term gains as per laws. However, in India, If it is apartments, there is no issue as most of the money is in white money. But, if it were to be plots, there will be a factor of black money involved (difference between purchase/sale price vs actual registration price). This difference is BLACK and you will have to find other ways to mobilize it. | ||
| Filmbuff Junior Artist Username: Filmbuff Post Number: 58 Registered: 11-2011 Posted From: 203.83.248.37 Rating: N/A |
I am asking this for a friend. He wants to buy some real estate in India. He had a question on that. Suppose in future, he sells that property can he repatriate the money to the US. Or will it have to continue in India. Did any of the esteemed NRIs here have any experience. |
