Steps for selling property in India and repatriation of money to USA

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

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