Steps for selling property in India and repatriation of money to USA
Apply for PAN card (Tax id)
Drafting of Power of Attorney to be executed in favor of a relative/family member for signing Sale Agreements
Review of the Sale Agreement to be entered into the with the buyer (Drafting to be done by the Advocate / Document Writer of the buyer)
Visiting Government offices for arriving at the value of the property as on 1.4.2001 Computation of Tax Payable pursuant to the sale (Capital Gains)
Advisory on Tax Saving options
Purchase of Bonds (if required as part of the Tax Saving option)
Payment of Tax in India
Filling of Form A2 – given by the banker
Issue of CA Certificate in Form 15CA
Filing of Form 15CA on your behalf
Transfer of Amount to NRO Account -> USA Bank account USA ( Another option: Transfer to NRO -> NRE -> USA Bank account)
Filing of Income Tax Returns in India
Shared for the community awareness from a expert CFA by *Govind, Gale Ranch Notary. *
Govind@GaleRanchNotary.com
