Part 54 (Household Property): NRIs can assert an exemption by reinvesting the gains from a lengthy-expression household property sale into another household property in India.
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NRIs are usually not permitted to purchase agricultural land in India. Nevertheless, should you acquired agricultural land in advance of turning out to be an NRI or inherited it, you might be permitted to sell it—but only to a resident Indian.
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Be sure to Be aware that NRIs are permitted to declare exemptions less than Part fifty four and Area 54EC on extended-time period money gains from the sale of house property in India.
Don’t fear — though the procedure does include several added ways when compared to resident Indians, it’s fully workable with the correct information.
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