Transfer property sale proceeds from India to
72+ countries
- Reduce tax payout by upto 75% in India
- Avoid Criminal & Legal Offence for Non-Compliance
- NRI Specialists - One Desk, PAN India Services
- 100% Remote Process, without visiting India
Book now for the safest, fastest and cost-effective transfer of funds
We have saved over $5,518,000 in tax and repatriation costs
25+
Years in Business
53k+
Clients Served
100%
Compliant & Transparent
Transfer the funds of your
property sale out of India the
easy way. It's as simple as it sounds.
Transfer the funds of your property sale out of India the easy way. It's as simple as it sounds.
Estimate the Right Value of Your Property & Put it on Sale
- Knowing the right price to sell is essential for the most profitable sale.
- The same can be determined through friends, family, local property brokers or even online.
- You will need a reliable property agent - online or offline, corporate agents or local brokers.
1. Engage a Government registered value to assess the fair value of your property.
2. Get your property documents ready, in soft copies.
Close the Sale by Taking an Advance but Mind the Taxes
- Take an advance of 5%-20% of the total sale amount to confirm the deal.
- Get a formal sale agreement / MOU prepared by your lawyer.
- The buyer will deduct 20% of the amount as TDS / Withholding Tax.
- The sale deed registration will be carried out by the buyer’s lawyer.
1. Always engage an NRI property lawyer to safeguard your interests.
2. A seasoned NRI tax advisor can reduce your tax liability by up to 50-75% .
Get Full Payment on the Day of Registration of the Sale
- Consult your lawyer to check the registration draft before signing it.
- On the day of the registration, collect the Demand Drafts (DD) & TDS Challans from the buyer.
- You will need to hand over the property keys, possession letter, and all original property documents to the buyer.
- Deposit the DD into your NRO bank account immediately.
1. Take copies of the DDs and TDS challans 1-2 days before the registration and get the DD pre-verified.
2. A POA can help you avoid a physical trip to India and get all the formalities completed on your behalf.
Transfer the Funds to your Overseas Account
- To initiate the transfer of funds overseas, your NRI tax advisor will need to get you a clearance and prepare all documents and certificates.
- You will require these documents: 15CA, 15CB, A2 Forms, NRO, Property Sale, FEMA & FATCA declarations.
- In a few cases, an RBI clearance may also be required.
1. The right NRI tax advisor can get your funds overseas within 10-15 days, which can otherwise take 30-45 days.
2. Try and avoid any cash payments during the entire process.
Compliance, DTAA, and Tax Returns
- The job is not over once you have received the funds into your overseas account.
- Income tax returns will need to be filed in India with a declaration of the sale details.
- To reduce the tax burden in your current country, you will need to avail the Double Tax Avoidance Exemptions (under DTAA)
1. The Tax exemptions applicable in India can be different from the ones applicable in your home country.
2. A DTAA and NRI tax expert can help you minimize your tax and can save you 25-30% on tax.
You're not in this
alone.
A seamless end-to-end money transfer process is only possible with the right team of experts.
Tax Advisors
NRI Lawyers
Property Valuers
Banking Advisors
Success Stories
“ There was a 20% tax (TDS) on my property sale amount in India which was almost Rs 1Cr. I needed the funds in Canada to pay off my mortgage.
Alfred Jordon's team with their effective Tax planning and documentation, helped me get a Tax Exemption Certificate from the Income Tax Department and saved more than 70% of my Tax (TDS) in India.”
Mr Grover, Canada
"I am a Doctor working with NHS in the UK and I wanted to sell my inherited property in India and get the funds transferred back to the UK. However, I could not visit India due to COVID.
The Alfred Jordan team in India, swiftly got a Corporate POA (Power of Attorney) executed by me and the property sale registration was done without my coming to India. Post the sale, the team issued the certificates and completed the documentation required for the money to be transferred overseas, once again without my coming to India. One of the smoothest and simplest experiences I have with the entire process."
Dr Fernandes, UK
"I had to pay Tax in India as well as in the US for my Property Sale in India, which was leaving me with nothing.
Through Alfred Jordan's Tax expertise in NRI Tax and DTAA and with effective Tax Planning by using almost all the exemptions available and applicable, my taxes in India as well as in the US was reduced by over 50%."
Mr. Ghosh, US
Book our services today to save 15% on forex rates and flat 50% on TDS & Repat Charges
Book our services today to save 15% on forex rates and flat 50% on TDS & Repat Charges
Check your estimated savings
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Frequently Asked Questions
The Documents required are:
KYC: PAN, Passport, OCI (if applicable)
Property Documents: Purchase (Title) Deed, Allotment Letter, Possession Letter, Latest Electricity Bill & Maintenance Bill, Municipal Taxes Receipt, Share Certificate (Co-operative Property), Mutation Certificate, Floor Plan
Banking: Loan Outstanding or Closure Letter, India Account Details (NRO Cancelled Cheque), Overseas Account Details (if you want to transfer the sale proceed, overseas).
An NRI can sell his property, purchased by him, to anyone who is an Indian without any restrictions. In case the Buyer is a Foreign Entity or a Foreigner, there are certain approvals that are required to be taken.
In case of sale of Agricultural land and plantations, there are some restrictions, else in general, there are no restrictions unless specific to the said nature of the property.
Yes, an NRI can sell an inherited property in India and also transfer the funds overseas. The Tax implication will depend on the nature of the property, the time of inheritance and the supporting documents available for the property.
There are some restrictions for specific property, like Plantations and Agricultural land, where there may be an approval required before selling.
Due to COVID, many NRI’s have not been able to travel to India. You can facilitate your property purchase or sale in India, without visiting India, by using a POA (Power of Attorney).
Your POA, who can be a relative or a friend, based in India, or a Corporate, on whom you have confidence, can sign on your behalf and get the payment credited to your account and you will not be required to travel to India for the entire process.
Moreover, in most states of India, the POA, can be executed remotely, without coming to India.
The value of a property is very dynamic in India. You can have 2 apartments in the same building but commanding different prices. The eventual pricing depends on multiple variables like; floor number, direction of the flat, Vaastu friendly, etc.
Hence, if you are selling a property it is very important to know the fair market value of the property before putting it on sale, especially if you haven’t been abreast with the property market for a long time. This fair valuation can be done officially through a Government Approved Valuer or you can take indicative prices from your neighbours, family or friends or brokers.
The pricing of the property is done on a per sq. ft. basis for buildings and flats and on a per sq. meter basis for land.
The Tax implication depends on the nature of the property and the holding period and the source of the property, i.e. if it is purchased by self or inherited or gifted and the sale price.
In general the Gross Tax for property held for a Long Term is 20% and for Short Term is 30%.
However, there are certain other Taxes, like Cess and Surcharge which can have a marginal increase in Taxes in India.
As an NRI, there is a withholding Tax or a TDS (Tax Deducted at Source) for property sale in India @ 20% (Gross) for Long Term and 30% (Gross) for Short Term. Hence, if you have purchased a property for say Rs. 4.5 crore and are selling it at Rs. 5 crore, your TDS will be Rs 1 crore (@20%), which ends up blocking part of your principle amount.
You need to apply for a Tax Exemption Certificate, to avoid this high %’age of TDS and the application and certification needs to be done before you make the sale. It takes about 30-45 days and some on the ground work to eventually get this certificate from the ITD.
The Penalty can be more than 100% and also run a risk of being a criminal offence and hence it is highly recommended not to take a short cut on the TDS compliance. With the previous example, if you have purchased a property for say Rs. 4.5 crore and selling at Rs. 5 crore, your TDS will be Rs 1 crore and penalty will be Rs 1 crore (in case the TDS compliance is not done accurately and timely).
The Capital Gains (CG) Tax is applicable only on the profit you make. Determining the profit for an inherited or gifted property will require professional assistance.
There are many methods to save the CG Tax, like reinvestment in residential property, capital gains Bonds, Capital Gains Accounts and certain specified Equity stocks among others.
However, at times it may be more beneficial to pay the tax rather than use the instruments to save tax. This can be better understood by doing a scenario A/B analysis and also opportunity cost analysis to arrive at a decision.
If you are an NRI and when you are selling property in India you may liable to tax in India as well as in the USA (assume you are an NRI based in USA). Hence you may end up paying a substantial amount of sum in Taxes. Under DTAA, you can avoid or reduce paying Tax in US by taking credit of the Taxes paid in India.
Moreover, the Capital Gains Calculation in India is different from USA and there would be certain exemptions applicable in India but not in USA and vice versa. Hence its very important to take the benefit of all the exemptions to reduce your Tax outgo in both the countries.
Due to COVID, many NRI’s are not able to travel to India. You can facilitate transferring of your funds from the property sale, without visiting India, by using a POA (Power of Attorney).
To transfer Funds out of India, you need quite a few documents, one of which is a 15Ca and 15 CB Certificate with is issued by a certified Accountant in India. This certificate is issued after the Indian Accountant has gone through your documents and determined the source of funds, tax liability, legality of transfer under various laws in India.
Due to COVID, many NRI’s have not been able to travel to India. You can facilitate transferring of the funds from your property sale in India, without visiting India, by using a POA (Power of Attorney).
It is absolutely necessary to file your Tax Returns in India, if you sell any property in India. Many NRI’s make this mistake of not filing Tax Returns in India which can lead to compliance and legal issues.
Any amount can be remitted abroad, just that the level of approvals and documentation are different.
