Readers corner: Tax solutions

There are not many changes in the compliance requirements under presumptive taxation scheme this year

I am no longer a citizen of India but I own a property here. I want to sell it off, and the ongoing rate is around Rs 15 million. What will be tax implications as I am no longer an Indian citizen? In which category of bank account do I park the money? How much funds can I repatriate abroad?

Any gains earned on the sale of the property is subject to tax in India. Whether gain would be long term or short term would depend on the holding period of the property. If held for more than two years, the