No Tax for non-resident PIO on sale of foreign properties

News, NRI

For a person of Indian origin (PIO), what is the tax treatment for income generated from selling multiple properties?

Capital gains on a property situated in India are always taxable in India. Whether a person has to pay tax in India also depends upon their residential status. Assuming this PIO is non-resident in India (NRI), he or she will not have any tax liability in India regarding sale of properties situated outside India. This also applies to those who are resident but not ordinarily resident in India.

For properties situated in India, capital gains have to be computed separately for each. Capital gains may be long term or short term depending upon the period for which these were held.

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