capital gains on sale of house

Sale of House or Land by USA Resident NRI : Tax Implications in Both Countries

capital gains on sale of houseIf you are a non-resident Indian who is tax resident of USA , the sale of capital assets like house or land situated in India will have implication under Indian Income Tax Act as well US Code 26 ( Internal Revenue Code ) of USA. The NRI may not only be required to file tax return in India under certain circumstances , but gains or loss as per USA tax law has to be reflected in US return also .but This post will devote on this topic and will have complete discussion on tax impact and required compliance under Indian law as well as US tax code.