neelspeaks2u Posted March 7, 2022 Report Share Posted March 7, 2022 Hello .. Do we need to be in India for registration or can I assign someone and give them power of Attorney.. I am looking for some answers.. Did anyone sell any property recently? Thanks in advance .. Quote Link to comment Share on other sites More sharing options...
jathin Posted March 7, 2022 Report Share Posted March 7, 2022 2 hours ago, neelspeaks2u said: Hello .. Do we need to be in India for registration or can I assign someone and give them power of Attorney.. I am looking for some answers.. Did anyone sell any property recently? Thanks in advance .. It’s complicated… and depends on various factors. - if the white transaction (registration sale price) is more than Rs50 lakhs … then - if you are an NRI with Indian passport - then the new buyer will need to pay TDS for your PAN before the registration happens. And you will need to pay capital gains. - if your not Indian citizen (ex: USA) - then the buyer will need to pay approximately 30% capital gains on your NRI pan card. Quote Link to comment Share on other sites More sharing options...
neelspeaks2u Posted March 7, 2022 Author Report Share Posted March 7, 2022 Thanks Jathin. Property is over 50 Lakhs. I am ready to pay the capital gains .. Can i assign some one to take care of all the transactions, or do i need to be physically present ? Quote Link to comment Share on other sites More sharing options...
Tomb__ayya Posted March 7, 2022 Report Share Posted March 7, 2022 10 minutes ago, jathin said: It’s complicated… and depends on various factors. - if the white transaction (registration sale price) is more than Rs50 lakhs … then - if you are an NRI with Indian passport - then the new buyer will need to pay TDS for your PAN before the registration happens. And you will need to pay capital gains. - if you other country citizen (ex: USA) - the new buyer will need to pay approximately 30% capital gains on you NRI pan card. NRI pan card ante endi bayya? once US citizen ayyaka, special pan card isthara ? Quote Link to comment Share on other sites More sharing options...
jathin Posted March 7, 2022 Report Share Posted March 7, 2022 2 minutes ago, Tomb__ayya said: NRI pan card ante endi bayya? once US citizen ayyaka, special pan card isthara ? If NRI is applying for a new PAN card .. he will need to specify country citizen and capital gains calculation is slightly different for NRI’s 1 Quote Link to comment Share on other sites More sharing options...
jathin Posted March 7, 2022 Report Share Posted March 7, 2022 1 hour ago, neelspeaks2u said: Thanks Jathin. Property is over 50 Lakhs. I am ready to pay the capital gains .. Can i assign some one to take care of all the transactions, or do i need to be physically present ? Assuming you are USA citizen. Yes - You can give power of attorney to your family member and he should be able do the sale registration on your behalf. but the buyer will deduct 30% of the sale price (white amount/bank transaction) and will pay the capital gains on your behalf right away prior to the registration. and for the next tax filing year in India - you need to file taxes and claim your capital gain filing and returns (10%) Even if you are holding Indian passport - you can still give power of attorney and get the registration done on your behalf with buyer paying 1% TDS only on your PAN card .. 30% capital gains not required. make sure to discuss with local document writer (usually engaged by the buyer to draft the sale deed) .. he can also guide you on this and give you any work around options as he would usually deal with local sub-registrar on a daily basis. Quote Link to comment Share on other sites More sharing options...
neelspeaks2u Posted March 7, 2022 Author Report Share Posted March 7, 2022 Thanks Jathin . I really appreciate you taking time to answer .. I am a permanent resident with Indian passport. Quote Link to comment Share on other sites More sharing options...
HEROO Posted March 7, 2022 Report Share Posted March 7, 2022 1 hour ago, neelspeaks2u said: Hello .. Do we need to be in India for registration or can I assign someone and give them power of Attorney.. I am looking for some answers.. Did anyone sell any property recently? Thanks in advance .. entha ba rate ? E area lo ? Quote Link to comment Share on other sites More sharing options...
JustChill_Mama Posted March 7, 2022 Report Share Posted March 7, 2022 Power of attorney ivvochu ankunta .. you just need to send one document with you sign Quote Link to comment Share on other sites More sharing options...
argadorn Posted March 7, 2022 Report Share Posted March 7, 2022 Buy lands in shabad shadnagar Chanda velli … next e area developing and data centers coming there … acre ki 1.2 crores undey 2 months back… I got two … I don’t know anyone to contact .. I got it from family friend … Quote Link to comment Share on other sites More sharing options...
Maoist Posted March 7, 2022 Report Share Posted March 7, 2022 3 hours ago, neelspeaks2u said: Hello .. Do we need to be in India for registration or can I assign someone and give them power of Attorney.. I am looking for some answers.. Did anyone sell any property recently? Thanks in advance .. If its not agricultural land we can buy/sell in Telanagana, If its agricultural land buyer/seller must be there at the time of registration. Quote Link to comment Share on other sites More sharing options...
Battu123 Posted March 7, 2022 Report Share Posted March 7, 2022 Quote Link to comment Share on other sites More sharing options...
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