For Non-Resident Indians

Exemption under Section 54:

• NRIs can claim exemption on long-term capital gains by investing in a new property.

• The exemption is limited to the total capital gains earned.

• The new property must be purchased one year before or two years after the sale, or constructed within three years.

• Only one property can be purchased or constructed using the gains.

• If unable to invest by the tax deadline, gains can be deposited in designated banks under the Capital Gains Account Scheme.

• Exemption under Section 54F:

• NRIs can claim exemption on long-term capital gains from selling assets except residential houses.

• To qualify, they must buy a new property within one year before or two years after the transfer, or construct within three years.

• The new property must be in India and not sold within three years.

• NRIs must not own more than one house property apart from the new one.

• The entire sale receipt must be invested for full exemption, otherwise, exemption is proportionate to the investment made.

Steps:

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