1) you can sell property in USA and remit proceeds abroad

2)NRIs are allowed to remit up to $1 million from the sale proceeds of property in India from their NRO account. ...

3)This limit of USD 1 million is the limit upto which you can repatriate without any permission from RBI. If you have a genuine need to repatriate above this limit, you can make a specific application to RBI for increasing the repatriation limit."

4) since you have inherited property it would attract long term capital gains

5)As an NRI, you will be subject to a TDS of 20 per cent on the capital gains.

6)the purchaser of the sale proceeds, even if he is an individual will be responsible for deducting tax at source and paying it to the Government. He must get a Tax Deduction Account number (TAN) and issue a TDS certificate for the same."

You can get the amount transferred through your NRO account.

a) Capital Gain Tax from Sale of Property: Long term capital gain tax will be 22.66% if NRI is selling a property in India after holding it for more than 3 years. In case holding period is less than 3 years then Short Term Capital Gain Tax will be applicable as per income tax slab. Basically, the key concern of Income Tax department is that any capital gain arising out of sale of property in India then corresponding income tax should be paid in India. For resident indian seller, as he is staying in India therefore he does not have any other option but to comply with income tax rules and regulations. Since NRI is staying outside India therefore it is very difficult to ensure capital gain tax compliance after the property transaction is completed. In order to ensure compliance, Income Tax Department came out with an innovative idea to ensure that buyer deduct TDS at the time of making payment to NRI seller. TDS u/s 195 is deducted only to ensure capital gain tax compliance.

b) TDS u/s 195: In case of sale of property by NRI, it is mandatory for buyer to deduct 20.66% TDS on the sale price of the property if capital gain is long term capital gain. The buyer shall deposit the same TDS amount with the Income.tax department

Now anomaly in this rule is that NRI is liable to pay Capital Gain Tax only on the Capital Gain arising out of sale of the property but unfortunately TDS is deducted on the total Sale Value of the property. Therefore in most of the cases there are no GAINS as such from the sale of property and actually NRI incur LOSS from the sale of the property if TDS refund is not claimed. As a result, NRI has to go through the process of claiming TDS refund from Income Tax Department.

You can Transfer the Funds Online,

You should have a valid PAN, TDS of 20% on Market Value u/s 195 is to be deducted by the purchaser, you can claim the refund later on

Further u can also apply for low rate of tax deduction to Income Tax Department there is a complete Procedure to save the valuable money.

We can do it for u, moreover there can also be some planning to reduce the tax.

Feel free to contact

There are lot of online portal through which you can send money from indie to USA or you can keep the money in your Indian account and use it when you would require.

In India, the long-term capital gains on sale of listed securities exceeding Rs.1 lakh are taxed at 10% as per the Union Budget 2018. The short-term gains will be taxed at 15 percent. In case of debt mutual funds, both short and long term capital gains are taxed. The short-term capital gain on debt mutual fund is added to the income and taxed as per the individual’s Income Tax Slab and the long-term capital gains on debt mutual funds are taxed at 20 percent with indexation and 10 percent without indexation. Indexation is adjusting the purchase value for inflation. The indexation increases the purchase cost and lowers the gain.

1. You can open a bank account in India and take credit of sale proceeds in that account.

2. You can then opt to exchange the INR to USD and have it remitted to your US Account through payment gateways and other money transfer services.

3. Try Axis bank for its service involving the cryptocurrency xrp (ripple). The remittance fee would be lesser and also transfer will be instant.

4. Since the property is situate in India, you will have to pay capital gains tax in India only as per Indian tax laws.

1. You shall have to take RBI clearance for transferring money you shall receive towards consideration for selling your inherited property , from India to the country of your present stay

2. Since it is the sale proceed in connection with an inherited property and you have not gained anything by making any investment thereupon, no capital gain tax will be applicable on the said sale proceeds.

Hello,

You may remit upto $1million from the sale proceed through your NRO Account.

TDS @ 20% will have to be deducted by the purchaser even if the same is an individual.

And also note that since the property is an inherited property therefore the same will attract LTCG i.e., Long term capital gain.

Regards

The money may be paid to you in NRO account if you have any or you may repatriate the proceed if you don't have an account here by swift transfer after deduction of tax by the buyer at the applicable rate.

Dear Client,

When an NRI sells property, the buyer is liable to deduct TDS @ 20%.

General permission is available to NRIs and PIOs to repatriate the sale proceeds of property inherited from a person resident in India subject to the conditions.

The sale proceeds of inherited property have to be credited to NRO account. An NRI may remit an amount not exceeding USD 1 million per financial year from out of his balances in his NRO accounts.

The NRI must produce documentary evidence in support of the inheritance and an undertaking and certificate by a Chartered Accountant in the formats prescribed by the Central Board of Direct Taxes

A Non-Resident Indian (NRI) / Person of Indian Origin (PIO) may remit an amount, not exceeding US $ 1,000,000 (US Dollar One million only) per financial year out of the balances held in NRO accounts / sale proceeds of assets by way of purchase / the assets in India acquired by him by way of inheritance / legacy/ out of Rupee funds. This is subject to production of documentary evidence in support of acquisition, inheritance or legacy of assets by the remitter, and a tax clearance / no objection certificate from the Income Tax Authority for the remittance. Remittances exceeding US $ 1,000,000 (US Dollar One million only) in any financial year requires prior permission of the Reserve Bank.

Firslty, you would have to sell the property and would have to pay capital gain tax India.

Secondly, if you pay the above mentioned tax then you can easily transfer that in USA also, but they are subject to some further tax but nominal.

Capital gain tax will be applicable in your case u/s 195 of income tax Act. TDS is also applicable for the same of Property by NRI in India.