Sale of Property in India by NRI's

One of the numerous appealing investment opportunities in India lies within the real estate market, particularly in rapidly growing cities. Many Non-Resident Indians (NRIs) have chosen to invest in residential and commercial properties in India, whether for investment purposes or other reasons. However, there is a challenging aspect for most NRIs when it comes to managing, selling, disposing of, or reinvesting these assets in India.
Apart from the practical difficulties associated with travel and connecting with potential buyers, selling property by NRIs comes with the drawback of a higher rate of tax deduction at the source, which ties up much-needed funds within India. The entire process of selling, reinvesting, and repatriating funds typically takes several months to complete, owing to the various tax and regulatory requirements involved.
We are uniquely positioned to provide a comprehensive suite of solutions for the sale of real estate in India by NRIs. Our services begin with guiding our clients through the planning phase before the sale of their property, and we continue to support them throughout the process, including the repatriation of proceeds. Furthermore, we ensure that your tax returns are efficiently filed in both countries, with the potential benefits of the Double Taxation Avoidance Agreement (DTAA) being considered if applicable.

Pre-Sale Assistance

• Pre-sale tax planning: Our expertise allows us to guide you through the complexities of tax planning. We ensure you fully understand your options, whether it involves reinvestment, repatriation, managing cash flows, or implementing global tax mitigation strategies.
• Connecting you to empanelled real estate consultants: We have established relationships with experienced real estate consultants who can provide valuable assistance throughout the sale process. Their expertise can help you navigate the intricacies of the real estate market.
• Obtaining a lower tax deduction certificate: When applicable, we assist you in obtaining a lower tax deduction certificate from the Income Tax Department. This certificate helps limit the tax deducted at source to the extent of the tax required to be paid on the capital gain resulting from the property sale, optimizing your financial outcome. Please note that eligibility for this certificate may depend on PAN jurisdiction.

During the sale assistance

• Precise Capital Gains Calculation: We ensure accurate computation of capital gains to maintain transparency and compliance.
• Reinvestment Guidance: We assist you in reinvesting the sale proceeds to maximize returns, exploring various investment options tailored to your needs.
• CA Certification for Repatriation: Our services include obtaining CA certification to facilitate the smooth repatriation and remittance of funds, ensuring compliance with regulatory requirements.
• Guidance Throughout the Sale Process: We offer continuous support by addressing your questions, providing clarifications, and addressing any tax-related matters for the buyer during the registration process.
• Expert Team Support: Our experienced team is dedicated to offering guidance and assistance throughout the entire sale process, ensuring a seamless experience for our clients.

Post-sale assistance

• Income Tax Return Filing in India: We manage the filing of income tax returns in India, ensuring full compliance with tax regulations.
• Income Tax Return Filing in Australia: We provide assistance with the filing of tax returns in Australia, addressing your global tax obligations.
• Repatriation of Funds: We facilitate the transfer of funds from your Indian bank account to your Australian bank account and provide the necessary CA certificate (15CA/CB) for banks to initiate the transfer securely.
• Double Taxation Treaty Benefits: We help you leverage the Double Taxation Treaty between India and Australia to minimize tax liabilities and prevent dual taxation, optimizing your tax situation.
• Assistance with Income Tax Assessment Proceedings: In the event of income tax assessment proceedings, our experienced team offers support and guidance, ensuring a smooth resolution and safeguarding your interests.