Q28. Is a NRI/PIO/OCI liable to pay taxes and file its Income Tax Return on Sale of Immovable property in India?

Yes, There exist a liability to file Income Tax Return and pay due taxes, if any, arising out of Sale of Immovable property in India. Further, other Income like Interest, rent, dividend, if any, arising in India will also be included in filing Income Tax Return and will be taxed according to Income Tax Act, 1961.