Non-Resident Indians selling or transferring assets in India may need to review capital gains tax and income-tax reporting requirements. Relevant assets may include: Residential or commercial property Land Listed or unlisted shares Mutual funds Bonds and other investments The tax treatment may depend on the type of asset, purchase and sale dates, holding period, acquisition cost, improvement expenses, ownership share, sale consideration and tax deducted at source.
Important records may include: Purchase and sale documents Property improvement records Broker or demat statements Mutual-fund capital-gain statements Bank statements showing sale proceeds TDS certificates Form 26AS and AIS Joint-ownership information NRIs should verify the reported transaction and available TDS credit before filing the applicable income-tax return. Capital-gains transactions involving non-residents may also require review of applicable TDS provisions. This post is intended only for general educational information. The applicable tax treatment should be checked according to the transaction facts and current tax provisions.