Question ID : 36866

Capital Gain

An NRI who is serving in Kuwait for last twe;ve Years appx has sold Residential Flat in India and after Indexation capital gain of around 35 Lacs is earned. In Kuwait he is earning Tax free Salary (There is No income Tax there) On Purchase from NRI Buyer has to deduct TDS @20.8%. Whether he should invest in Capital Bonds/Residential property to avoid Capital Gain Tax or there is any other wayout. I have heard some Income Tax Authority can issue Certificate of No deduction/short deduction.Whether Such Authority is in all cities or Some centralised Department in Delhi etc

posted by Mahesh Kumar on Nov 15 2018 12:00AM