Selling a property in India at a price higher that purchase price calls for capital gain tax that a seller has to pay to the government of India. Capital gains tax is definitely an aspect that every Non Resident India (NRI) or for the matter any seller should consider before making decision.
If the property has been purchased less than three years ago, usual income tax rules apply. However, if the property was purchased more than three years ago, as is usually the case with NRI properties, tax rate is 20 % which can be a substantial part of the sale value.
Land Record Search
Partition/ Division of Property
Mutation of Property
Landlord Tenant Disputes
Illegal Sale of Property
Illegal Occupation of Property
However, Indian law provides provision to prevent the Capital gain tax under some rules and regulations. The provisions can help you might be able to avoid paying tax on long-term capital gain arising from sale of the house, and also have an option to reducing the tax burden.
Usually NRIs and neither aware nor do they have much time to go into details and thus suffer a loss by giving away quite substantial part of their wealth in taxes.
NRI Helpline has legal experts that can save you wealth and thus provide greater returns on property you sell. The savings can be substantial chunk of the property you sell.
For More information on Capital Gain Tax, click here