How are non-residents taxed on profits on the sale of real estate?
Live MintAfter acquiring two residential properties, an NRI inquires about capital gains tax and remittance options. {{^adFree}} {{/adFree}} Profits on the sale or transfer of land and buildings, whether residential or commercial, are treated as long-term capital gains if sold after 24 months. The long-term capital gains are taxed at a flat rate of 12.50% without any indexation benefits, as the budget presented on 23 July 2024 has withdrawn the indexation benefits. There are no differences as regards taxation of short-term and long-term capital gains on the sale of land and building between a resident and a non-resident except that a resident individual has the option to pay tax either @ t 12.50% on plain long-term capital gains or @20% on indexed long term capital gains if the property was acquired before 23 rd July 2024. {{^adFree}} {{/adFree}} If his income other than long-term capital gains and short-term capital gains on listed shares and equity-oriented schemes is below the exemption limit, a resident individual can offset such shortfall against such capital gains and pay tax on the balance of capital gains.
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How are non-residents taxed on profits on the sale of real estate?
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What’s the TDS when buying property from an NRI?
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How tax on rental income works for NRIs?
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Real estate investment: Homebuyer must look into taxation aspects of rental income, gains from property sale
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Rules for filing income taxes broadly same for NRIs and residents
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