Capital gains tax applicability if buying a House abroad
I want to sell my House in India and bring that money to UK (living here for 2 years) to buy a house in UK. It will help me securing a loan by increasing the down payment I can make.
My question is, would I have to pay capital gain tax provided I am buying another house but not in India?
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Yes you need to pay Capital Gains tax in India. Further transfer of money out of India from Ordinary account requires some formalities / paperwork. A CA should be able to guide you.
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