Nri Parent Indian Real Estate Residential Commercial...
Complete 2026 guide for NRI / OCI senior parents holding or inheriting Indian Real Estate — covering Residential property (apartment + independent house + villa +...
Critical: Indian Real Estate held by NRI / OCI / US person — Section 50C stamp duty valuation + Section 194-IA 1% TDS + FEMA prior RBI approval for NRI acquisition + Section 56(2)(vii) heir exempt
Indian Real Estate (Residential + Commercial + Under-construction + RERA-registered project) held by NRI / OCI senior 60+ parent is classified as capital asset per Income Tax Act 1961 Section 2(14). Section 50C stamp duty valuation applies — sale consideration deemed to be stamp duty value if higher than actual transaction value (ONLY for immovable property). Section 194-IA 1% TDS on transfer of immovable property above INR 50 lakh consideration — buyer deducts TDS + files Form 26QB quarterly + Form 16A TDS certificate + remits to IT Department within 30 days. FEMA prior RBI approval debated for NRI acquisition of immovable property — NRI can acquire residential + commercial property but NOT agricultural land / farmhouse / plantation property per FEMA 1999 Section 4 + RBI Master Direction. Section 56(2)(vii) heir exempt APPLIES to immovable property (heir receiving immovable property from specified relative exempt from deemed gift); Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for immovable property received from specified relative. Section 112 LTCG 20% + 4% cess (holding > 24 months for immovable property) + Indexation Section 48(ii) with CII 2001 base (full benefit for immovable property).
NRI Parent Real Estate — Residential + Commercial + Under-construction + RERA Stack for Senior 60+ Parent Estate India 2026
Senior 60+ Parent Estate | NRI / OCI / US Person | India Real Estate Residential Commercial Under-construction RERA | Section 194-IA + 50C + 45 + 48 + 112 + 56(2)(vii) + 54 + 54F + 80C + 24(b) + 80EEA
Full Section 194-IA + 50C + 45 + 48 + 112 + 56(2)(vii) + 56(2)(xi) + 54 + 54F + 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding stack for senior 60+ parent estate NRI / OCI / US person Indian Real Estate Residential + Commercial + Under-construction + RERA — covering apartment + independent house + villa + bungalow + plot + office + shop + showroom + warehouse + industrial plot + factory + RERA-registered project + pre-launch + under-construction + ready-to-move-in — applied across acquisition + holding + rental income + transmission to heir + rollover + deduction + repatriation + compliance.
Section 50C stamp duty valuation — sale consideration deemed to be stamp duty value if higher than actual transaction value; applies ONLY to immovable property
Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB + Form 16A within 30 days
Section 45 + 48 + 112 LTCG 20% + 4% cess (holding > 24 months for immovable property) + Indexation Section 48(ii) with CII 2001 base
Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative; Section 56(2)(xi) deemed gift NOT applicable for immovable property received from specified relative
Section 49(2)(iii) cost of acquisition to previous owner + Section 49(2AA)/(2B)/(2C) holding period to previous owner
Section 54 + 54F rollover — LTCG on immovable property (Section 54) / any LTC asset (Section 54F) reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap; CGAS 6m deposit + 2y utilisation
Section 80C home loan principal repayment (INR 1.5 lakh cap overall) + Section 24(b) interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out) + Section 80EEA affordable housing (INR 1.5 lakh)
Section 194-I 10% TDS on rental income + Section 195 r.w. Section 194-I NRI TDS at applicable rate + DTAA rate
FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 + Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA compounding penalty up to 3x
DTAA Article 13 capital gains + Article 6 immovable property income — India retains full taxing right per Article 13(1) of most DTAAs
Section 90(4) 8-year retention of TRC + Form 67 mandatory; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules; Section 90(5) panchnama
Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A
Form 8938 FATCA required if foreign real estate held by US person > USD 50K end-of-year; FBAR FinCEN 114 if foreign rental income account > USD 10K; Form 5471 CFC for foreign real estate company > 50% US person ownership
Section 671-679 grantor trust + Section 642/664 charitable remainder + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty
Section 194-IA + 50C + 45 + 48 + 112 + 56(2)(vii)/(xi) + 54 + 54F + 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO + 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026 matrix
| Mechanism | Section + rate + TDS | Senior 60+ parent estate treatment | FEMA + DTAA interaction | Black Money Act + Form 3520 angle |
|---|---|---|---|---|
| Residential property (apartment + independent house + villa + bungalow + plot) | Section 45 + 48 + Section 50C stamp duty valuation (sale consideration deemed to be stamp duty value if higher) + Section 112 LTCG 20% + 4% cess (holding > 24 months for immovable property) + Indexation Section 48(ii) with CII 2001 base + Section 194-IA 1% TDS on transfer above INR 50 lakh (buyer deducts + files Form 26QB); Section 195 NRI TDS at applicable rate + DTAA rate | Heir receiving residential property inherits cost of acquisition to previous owner per Section 49(2)(iii) + holding period includes previous owner's holding per Section 49(2AA) + 49(2B) + 49(2C); Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative; Section 50C stamp duty valuation applies on subsequent sale by heir | FEMA prior RBI approval debated for NRI acquisition (typically not required for residential — NRI allowed to acquire per FEMA 1999 + RBI Master Direction); FEMA Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + USD 1M / year LRS; FEMA compounding penalty up to 3x | Form 8938 FATCA required if foreign real estate held by US person > USD 50K end-of-year; FBAR FinCEN 114 if foreign rental income account > USD 10K; BMA + Form 3520 for undisclosed foreign real estate holdings |
| Commercial property (office + shop + showroom + warehouse + industrial plot + factory) | Section 45 + 48 + Section 50C stamp duty valuation + Section 112 LTCG 20% + 4% cess (holding > 24 months) + Indexation Section 48(ii) with CII 2001 base + Section 194-IA 1% TDS above INR 50 lakh + Section 194-I TDS 10% on rental income (resident + NRI) + Section 195 r.w. 194-I NRI TDS at applicable rate + DTAA rate | Heir receiving commercial property inherits cost of acquisition to previous owner per Section 49(2)(iii); Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 50C stamp duty valuation applies; Section 194-I rental income for heir | FEMA prior RBI approval typically NOT required for NRI acquisition of commercial property (NRI allowed per FEMA 1999); FEMA Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + USD 1M / year LRS; FEMA compounding penalty up to 3x for non-compliance | Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC (foreign real estate company > 50% US person ownership) + BMA + Form 3520 for undisclosed foreign commercial property holdings |
| Under-construction property (RERA-registered project + pre-launch + under-construction + ready-to-move-in) | Section 45 + 48 + Section 50C stamp duty valuation + Section 112 LTCG 20% + 4% cess (holding > 24 months — holding period includes pre-construction booking date if registered agreement) + Indexation Section 48(ii) with CII 2001 base + Section 194-IA 1% TDS on transfer (debated for under-construction transfer — typically TDS applies on each installment paid + on final transfer); Section 195 r.w. 194-IA NRI TDS | Heir receiving under-construction property inherits registered agreement per RERA Act 2016 + Will + codicil + executor; Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 50C stamp duty valuation applies; RERA MahaRERA / state-RERA registration transfer | FEMA Form A2 + AD-1 + 7-year NRO retention + USD 1M / year LRS; FEMA prior RBI approval debated; RERA Act 2016 Section 14 + 18 buyer protection + Section 15 promoter duties; FEMA compounding penalty up to 3x | Form 8938 FATCA + FBAR FinCEN 114 + BMA + Form 3520 for undisclosed foreign under-construction property holdings |
| Section 50C stamp duty valuation (KEY — only for immovable property) | Section 50C stamp duty valuation — sale consideration deemed to be stamp duty value adopted by state authority for stamp duty if higher than actual transaction value; Section 50C applies ONLY to immovable property (capital asset under Section 2(14)); if stamp duty value > actual sale consideration + > 10% threshold per Section 50C(2) — stamp duty value deemed to be sale consideration; Section 50CA FMV method NOT applicable to immovable property (only unlisted shares) | Senior 60+ parent heir receiving immovable property — Section 50C stamp duty valuation applies on subsequent sale by heir; stamp duty value on date of transfer = deemed sale consideration; cost of acquisition inherited from previous owner per Section 49(2)(iii) | FEMA — real estate classified as immovable property under FEMA 1999; different from movable property FEMA treatment (gold / silver / bullion / bonds / MF / equity / VDA — covered in #67-#73); real estate requires separate FEMA Form A2 + AD-1 + property registration at sub-registrar | Section 50C stamp duty valuation + Section 50CA NOT applicable to real estate (50CA only for unlisted shares); Black Money Act 2015 + Form 3520 applicable to undisclosed foreign real estate holdings |
| Section 56(2)(vii) heir exempt (KEY — for immovable property) | Section 56(2)(vii) — heir receiving immovable property from specified relative (spouse + brother + sister + lineal ascendant + lineal descendant + spouse of lineal ascendant + spouse of lineal descendant) FULL EXEMPT from deemed gift; specified relative defined in Section 56(2)(vii) Explanation; Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for immovable property received from specified relative; Section 49(1) + 49(2) cost of acquisition = cost to previous owner per Section 49(2)(iii) | Senior 60+ parent estate heir inherits immovable property per Indian Succession Act 1925 Section 63 + Will + codicil + executor + LoA + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed; Section 56(2)(vii) FULL EXEMPT for heir from specified relative; property mutation at sub-registrar + municipal records transfer | FEMA Form A2 + AD-1 + FEMA NRO for heir — immovable property inherited through inheritance non-repatriable for 7 years; repatriable after 7-year retention with Form A2 + AD-1 + CA certificate; FEMA NRO repatriation within USD 1M / year LRS after 7y; rental income repatriation allowed immediately per FEMA 1999 + RBI Master Direction | Form 3520 required if immovable property held by foreign trust (grantor trust) for US person; Form 3520-A for foreign trust ownership; Section 6048 reporting obligation; foreign real estate rental income reportable on Form 8938 FATCA + Schedule E |
| Section 54 + 54F + 54B rollover (KEY — for immovable property) | Section 54 rollover — LTCG on long-term capital asset (residential house + any immovable property) reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap on new residential house cost. Section 54F rollover — LTCG on any long-term capital asset (gold / silver / bonds / MF / equity / immovable property) reinvested in 1 residential house (if net consideration > INR 2 crore); once-in-lifetime. CGAS Capital Gains Account Scheme — 6 months deposit + 2 years utilisation per Section 54 + 54F; Section 54B agricultural land rollover (NOT applicable to residential / commercial) | Senior 60+ parent heir — Section 54 + 54F rollover available on LTCG from inherited immovable property (gold / silver / bonds / MF / equity / immovable property) used for purchase of residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap; CGAS 6 months deposit + 2 years utilisation | FEMA — rollover to Indian residential house via Section 54 + 54F allowed for NRI with repatriation within USD 1M / year LRS subject to Section 195 + Form 15CB + CA certificate + AD-1 + FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13 | Section 54 + 54F + 54B rollover reported in ITR + Schedule CG + Schedule FA + Form 26AS; Black Money Act 2015 + Form 3520 for undisclosed foreign rollover |
| Section 80C + 24(b) + 80EEA deduction stack (home loan + interest) | Section 80C deduction — home loan principal repayment (INR 1.5 lakh cap overall including PPF + EPF + VPF + SCSS + 5-year tax-saver FD + ELSS + tuition fees + life insurance premium + Section 80CCC + Section 80CCD(1)). Section 24(b) interest deduction — INR 2 lakh for self-occupied + INR 30,000 (debated for let-out — typically 100% deduction for let-out under Section 24(a)) + no limit. Section 80EEA affordable housing interest deduction — INR 1.5 lakh (home loan interest for affordable housing sanctioned between 01-04-2016 and 31-03-2017; extended in some budgets; consult CA) | Senior 60+ parent heir inheriting immovable property — Section 80C home loan principal repayment applicable if heir takes new home loan on inherited property; Section 24(b) interest deduction applicable for new home loan taken on inherited property; Section 80EEA applicable if affordable housing criteria met | FEMA — home loan from Indian bank to NRI for Indian property allowed per FEMA 1999 + RBI Master Direction; FEMA Form A2 + AD-1 for home loan EMI + principal repayment; 7-year NRO retention + USD 1M / year LRS; FEMA compounding penalty up to 3x for non-compliance | Section 80C + 24(b) + 80EEA deduction reported in ITR + Schedule VI-A + Schedule FA; Black Money Act 2015 + Form 3520 for undisclosed foreign home loan |
| Section 194-IA 1% TDS + Form 26QB + Section 195 NRI TDS | Section 194-IA — 1% TDS on transfer of immovable property (above INR 50 lakh consideration; buyer deducts TDS + files Form 26QB quarterly TDS statement + Form 16A TDS certificate + remits to IT within 30 days; no TDS for agricultural land below INR 50 lakh); Section 195 r.w. 194-IA — non-resident TDS on immovable property transfer at applicable rate + DTAA rate; buyer deducts TDS + files Form 26Q + Form 16A + remits to IT | Senior 60+ parent NRI / OCI — Section 194-IA 1% TDS on immovable property transfer (buyer deducts + files Form 26QB); Section 195 NRI TDS at applicable rate + DTAA rate; Section 197 lower-rate certificate + Form 13 to claim DTAA benefit; Form 15G + Form 15H senior 80+ NOT applicable to property sale income | Section 194-IA + 195 TDS credited against DTAA Article 13 capital gains (India retains taxing right for capital gains on immovable property per Article 13(1) of most DTAAs); TRC + Form 67 mandatory per Section 90(4); 8-year retention from end of relevant AY per Section 90(4) + CBDT Circular 3/2022; Section 90(5) panchnama if AO suspects non-genuine treaty claim | Section 194-IA + 195 TDS reportable in Form 1040 NR + Schedule D; Form 8938 FATCA if foreign immovable property held by US person > threshold; FBAR FinCEN 114 if foreign rental income account > USD 10K |
| Section 194-I + 195 r.w. 194-I TDS on rental income | Section 194-I — 10% TDS on rental income (above INR 2.4 lakh / year for plant + machinery; above INR 1.8 lakh / year for residential + commercial property — Section 194-I thresholds revised); Section 195 r.w. 194-I — non-resident TDS on rental income at applicable rate + DTAA rate; tenant deducts TDS + files Form 26Q + Form 16A + remits to IT | Senior 60+ parent NRI / OCI — Section 195 r.w. 194-I NRI TDS on rental income at applicable rate + DTAA rate; Section 197 lower-rate certificate + Form 13 to claim DTAA benefit; Form 15G + Form 15H senior 80+ to avoid TDS on small rental income | Section 194-I + 195 TDS credited against DTAA Article 6 immovable property income (typically India retains taxing right on rental income from Indian property); TRC + Form 67 mandatory per Section 90(4); 8-year retention from end of relevant AY per Section 90(4) + CBDT Circular 3/2022 | Section 194-I + 195 TDS reportable in Form 1040 NR + Schedule E; Form 8938 FATCA if foreign rental income > threshold; FBAR FinCEN 114 if foreign rental income account > USD 10K |
| Section 90(4) DTAA + Article 13 + Article 6 + Estate Tax Treaty + Gift Tax Treaty | Section 90(1) + Section 90(2) DTAA — India has DTAA with US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea + etc.; Section 90(4) 8-year retention of TRC + Form 67 for any DTAA claim; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules; Article 13 capital gains on immovable property — India retains full taxing right per Article 13(1) of most DTAAs; Article 6 income from immovable property — India retains taxing right | Senior 60+ parent inheriting immovable property from NRI parent (or vice-versa) must file Form 67 + retain TRC for 8 years from end of AY; DTAA Article 13 capital gains + Article 6 immovable property income + saving clause + Article 11 interest + MAV main purpose test + Estate Tax Treaty + Gift Tax Treaty | Form 67 mandatory for any DTAA relief at ITR filing; TRC from foreign tax authority within 30 days of AY end; Section 90(4) 8-year retention; Section 90(5) limitation of benefits; Section 285BA AIR + Form 61A if applicable; property tax + rental income + capital gains — all India-source per Article 6 + 13 | DTAA relief NOT applicable for Black Money Act 2015 + Form 3520 + Form 3520-A (offshore income / assets undisclosed separately reported); Form 3520 for foreign trust distribution + Form 3520-A for trust ownership |
| Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC | Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act 2015 — 30% tax + 30% penalty (Section 10/11 BMA) on undisclosed foreign income + foreign assets; Form 3520 + Form 3520-A mandatory for foreign trust distribution + foreign trust ownership; Section 6048 reporting; Section 671-679 grantor trust classification; Form 5471 CFC for foreign real estate company > 50% US person ownership; Form 8938 FATCA required if foreign real estate held abroad > USD 50K; FBAR FinCEN 114 if foreign rental income account > USD 10K | Senior 60+ parent estate inheriting foreign real estate held by foreign trust (offshore real estate trust in Cayman / Bermuda / Singapore) MUST file Form 3520 + Form 3520-A for foreign trust distribution; Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC separately; penalty up to USD 10,000 for non-compliance per IRC Section 6677; Section 6662 20-40% accuracy penalty; Section 6663 75% fraud penalty | FEMA NRO + AD-1 still applies for repatriation; Black Money Act + Form 3520 reported via ITR + Schedule FA + Schedule FSI + Schedule TR + Schedule CG — NO DTAA relief per Section 90(4A) exclusion; CBDT Notification 4/2015 + 5/2015 + 6/2015 + 8/2015 reporting | Form 3520 + Form 3520-A + Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC + Form 8621 PFIC (if foreign real estate fund) — aggregate reporting required; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty |
| Grantor trust + charitable remainder + Section 10(20/21/23BB) registered valuer + 23(5AA/5ABA) pension + 10(23C) charitable | Section 671-679 grantor trust — immovable property held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040; Section 642/664 charitable remainder — donor retains interest + charity remainder; Form 5227 split-interest + Form 1041-A charitable trust; Section 10(20/21/23BB) registered valuer exempt + 23(5AA/5ABA) pension + 10(23C) charitable | Senior 60+ parent estate donor — Section 10(23C) charitable trust (Section 56(2)(vii) FULL EXEMPT for charity from specified relative per Section 56(2)(vii) proviso — debated for immovable property to charity); Section 642/664 charitable remainder trust with Form 5227 + Form 1041-A; Section 671-679 foreign grantor trust; Section 678 beneficiary treated as owner; Section 679 foreign grantor with US beneficiary | FEMA — charitable donation of immovable property by NRI subject to stamp duty + registration + FEMA prior RBI approval per FEMA 1999 Section 4 + FEMA Master Direction; FEMA — foreign grantor trust creation requires prior RBI approval per FEMA 1999 Section 10(4) | Form 1040 + Schedule E + Form 5227 split-interest + Form 1041 trust + Form 3520 + Form 3520-A + Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC + Section 6662 20-40% + Section 6663 75% + Section 6677 |
| FEMA NRO + 7y + 10y retention + repatriation + rental income repatriation | FEMA 1999 Section 6(3) + Schedule 1 + RBI Master Direction 2024 — NRI may hold inherited immovable property + bank balance in NRO demat / bank account; 7-year Indian retention before repatriable for inherited immovable property (RBI Circular 47/2015 + 12/2015); 10-year US/UK/CA/AU retention for inheritance from person domiciled there; FEMA NRO repatriation within USD 1M / year LRS after retention; rental income repatriation allowed immediately per FEMA 1999 + RBI Master Direction 2024 (no 7-year retention for rental income) | Senior 60+ parent estate heir inherits immovable property through inheritance — non-repatriable for 7 years (principal); after 7y, repatriation permitted within USD 1M / year LRS; AD-1 + Form A2 + CA certificate Form 15CB mandatory for > USD 5000 net after tax; FEMA compounding penalty up to 3x for non-compliance per FEMA 1999 Section 13; rental income repatriation allowed immediately (no 7-year retention) | Section 195 + 194-IA + 196D TDS credited against DTAA limit per Article 13 + Article 6; TRC + Form 67 mandatory per Section 90(4) 8-year retention + Section 90(5) panchnama; FEMA + DTAA both applicable; rental income repatriable immediately subject to Section 195 r.w. 194-I TDS + Section 90 DTAA | All repatriation reportable in Form 8938 FATCA + FBAR FinCEN 114; Form 5471 CFC for foreign real estate company; Black Money Act 30% + 30% penalty for undisclosed foreign income / assets |
Section 194-IA + 50C + 45 + 48 + 112 + 56(2)(vii)/(xi) + 54 + 54F + 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026 overview matrix
Section 194-IA + 50C + 45 + 48 + 112 + 24(b) + 54 + 54F + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + FEMA NRO 7y + 10y retention + FEMA compounding stack for NRI parent senior 60+ parent estate
Step 1
Identify property classification (residential + commercial + under-construction + RERA + agricultural) for Section 50C + 194-IA + 195 + 54 + 54F + 24(b) + 80C + 80EEA + FEMA + DTAA + Black Money Act 2015 + Form 3520 + Section 671-679 + Section 642/664 + FEMA NRO 7y + 10y retention
Step 2
Establish cost of acquisition per Section 49(1)/(2)/(2AA)/(2B)/(2C) + Section 55(2)/(2A)/(2B)/(2)(iii) FMV 2001 + Section 50C stamp duty valuation + Section 50CA NOT applicable (only unlisted shares) + Indexation CII 2001 base
Step 3
Compute LTCG 20% + 4% cess per Section 45 + 48 + 112 for holding > 24 months (immovable property); apply Section 194-IA 1% TDS above INR 50 lakh; Section 195 NRI TDS at applicable rate + DTAA rate; Form 26QB + Form 15CB + CA certificate
Step 4
Apply Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative + Section 56(2)(xi) deemed gift > INR 50,000 (recipient hands) + Section 49(2)(iii) cost of acquisition to previous owner + Section 49(2AA)/(2B)/(2C) holding period to previous owner
Step 5
Apply Section 54 + 54F rollover for LTCG on immovable property (Section 54) / any long-term capital asset (Section 54F) reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap; CGAS 6m deposit + 2y utilisation
Step 6
Apply Section 80C home loan principal repayment (INR 1.5 lakh cap overall) + Section 24(b) interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out — typically 100% for let-out per Section 24(a)) + Section 80EEA affordable housing (INR 1.5 lakh)
Step 7
Apply FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 + Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance
Step 8
Apply DTAA Article 13 capital gains + Article 6 immovable property income; Section 90(4) 8-year retention of TRC + Form 67 + Section 90(5) limitation of benefits + panchnama + Section 285BA AIR + Form 61A
Step 9
Apply Black Money Act 2015 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A for foreign trust distribution / ownership + Section 6048 reporting + Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC + Section 6662 20-40% + Section 6663 75% + Section 6677 USD 10,000
Step 10
File ITR + Schedule CG + Schedule FA + Schedule FSI + Schedule TR + Form 26AS + Form 16A + Section 90(4) 8-year retention; update municipal records + sub-registrar + RERA MahaRERA / state-RERA registration; FEMA NRO + 7y + 10y retention; AD-1 + Form A2 + CA certificate
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Section 50C stamp duty valuation + Section 56(2)(vii) heir exempt + Section 54 + 54F + Section 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026 flow
Step 1
Stamp duty valuation per Section 50C — stamp duty value adopted by state authority deemed sale consideration if higher than actual transaction value + > 10% threshold per Section 50C(2); 50C applies ONLY to immovable property (capital asset under Section 2(14))
Step 2
Heir inheritance per Section 56(2)(vii) FULL EXEMPT — heir receiving immovable property from specified relative (spouse + brother + sister + lineal ascendant + lineal descendant + spouse of lineal ascendant + spouse of lineal descendant) FULL EXEMPT
Step 3
Cost of acquisition per Section 49(2)(iii) — heir inherits cost of acquisition to previous owner + holding period to previous owner per Section 49(2AA)/(2B)/(2C); Section 55(2)(iii) FMV 2001 as cost of acquisition for property acquired before 01-04-2001
Step 4
Section 54 + 54F rollover — LTCG on immovable property / any long-term capital asset reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap; CGAS 6m deposit + 2y utilisation
Step 5
Section 80C + 24(b) + 80EEA deduction stack — home loan principal repayment (INR 1.5 lakh cap) + interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out) + affordable housing interest deduction (INR 1.5 lakh)
Step 6
FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 — NRI acquisition of immovable property subject to Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA compounding penalty up to 3x
Step 7
DTAA Article 13 capital gains + Article 6 immovable property income — India retains full taxing right per Article 13(1) of most DTAAs; Section 90(4) 8-year retention of TRC + Form 67 mandatory
Step 8
Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC
Step 9
Section 671-679 grantor trust + Section 642/664 charitable remainder — immovable property held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040; Form 5227 split-interest + Form 1041-A charitable trust
Step 10
File ITR + Schedule CG + Schedule FA + Schedule FSI + Schedule TR + Form 26AS + Form 16A + Section 90(4) 8-year retention; update municipal records + sub-registrar + RERA MahaRERA / state-RERA registration; FEMA NRO + 7y + 10y retention; AD-1 + Form A2 + CA certificate
Section 194-IA + 50C + 45 + 48 + 112 + 24(b) + 54 + 54F + 80C + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026
Senior 60+ parent estate NRI / OCI parent Indian real estate holding — apartment + independent house + villa + bungalow + plot — is governed by the heaviest compliance stack in the personal finance book. Section 45 + 48 + 50C + 112 + 24(b) + 80C + 80EEA + FEMA USD 1M / year + DTAA Article 13 + 6 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding all converge on a single asset class. Section 50C stamp duty valuation applies ONLY to immovable property (capital asset under Section 2(14)) — Section 50CA NOT applicable to immovable property (only unlisted shares); Section 50C deemed sale consideration = stamp duty value adopted by state authority if higher than actual transaction value + > 10% threshold per Section 50C(2). Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB quarterly TDS statement + Form 16A TDS certificate + remits to IT within 30 days. Senior 60+ parent estate NRI parent heir receiving immovable property inherits cost of acquisition to previous owner per Section 49(2)(iii); Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative — Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for immovable property received from specified relative. Section 54 + 54F rollover available for LTCG on immovable property (Section 54) / any long-term capital asset (Section 54F) reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap on new residential house cost; CGAS Capital Gains Account Scheme 6 months deposit + 2 years utilisation. Section 80C home loan principal repayment (INR 1.5 lakh cap overall); Section 24(b) interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out — typically 100% for let-out per Section 24(a)); Section 80EEA affordable housing interest deduction (INR 1.5 lakh, home loan interest for affordable housing sanctioned between 01-04-2016 and 31-03-2017 per Finance Act 2016 + extended budgets; consult CA). FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 + Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA compounding penalty up to 3x per FEMA 1999 Section 13.
Senior 60+ parent NRI / OCI Indian commercial property — office + shop + showroom + warehouse + industrial plot + factory — also subject to Section 45 + 48 + 50C + 112 + 194-IA + 194-I + 195 + 80C + 24(b) + FEMA + DTAA + Black Money Act 2015 + Form 3520 + FEMA NRO 7y + 10y retention. Section 50C stamp duty valuation applies; Section 194-IA 1% TDS on transfer above INR 50 lakh; Section 194-I 10% TDS on rental income (above INR 2.4 lakh / year for plant + machinery; above INR 1.8 lakh / year for residential + commercial property — Section 194-I thresholds revised); Section 195 r.w. Section 194-I NRI TDS on rental income at applicable rate + DTAA rate; tenant deducts TDS + files Form 26Q + Form 16A + remits to IT. FEMA prior RBI approval typically NOT required for NRI acquisition of commercial property (NRI allowed per FEMA 1999); FEMA Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + USD 1M / year LRS; FEMA compounding penalty up to 3x for non-compliance. Senior 60+ parent heir receiving commercial property inherits cost of acquisition to previous owner per Section 49(2)(iii); Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 50C stamp duty valuation applies on subsequent sale by heir; Section 194-I rental income applicable for heir (10% TDS). DTAA Article 6 income from immovable property + Article 13 capital gains on immovable property — India retains full taxing right per Article 13(1) of most DTAAs; Section 90(4) 8-year retention of TRC + Form 67 mandatory; Section 90(5) panchnama if AO suspects non-genuine treaty claim; Section 285BA AIR + Form 61A. Form 8938 FATCA required if foreign commercial property held by US person > USD 50K end-of-year; FBAR FinCEN 114 if foreign rental income account > USD 10K; Form 5471 CFC for foreign real estate company > 50% US person ownership; Black Money Act 2015 + Form 3520 + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
Senior 60+ parent NRI / OCI Indian under-construction property — RERA-registered project + pre-launch + under-construction + ready-to-move-in — subject to RERA Act 2016 Section 14 + 18 buyer protection + Section 15 promoter duties + MahaRERA / state-RERA registration transfer. Section 45 + 48 + 50C + 112 + 194-IA + 195 + FEMA + DTAA + Black Money Act 2015 + FEMA NRO 7y + 10y retention. Holding period for LTCG purposes includes pre-construction booking date if registered agreement (RERA-registered agreement); Section 50C stamp duty valuation applies on transfer of under-construction property (stamp duty value of land + construction as on date of transfer); Section 194-IA 1% TDS on transfer of under-construction property (debated — typically TDS applies on each installment paid + on final transfer); Section 195 r.w. Section 194-IA NRI TDS at applicable rate + DTAA rate; buyer deducts TDS + files Form 26QB + Form 26Q + Form 16A + remits to IT. RERA MahaRERA / state-RERA registration transfer on inheritance + Will + codicil + executor + LoA + succession certificate; Senior 60+ parent heir receiving under-construction property inherits registered agreement per RERA Act 2016 + Will + codicil + executor; Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 50C stamp duty valuation applies on subsequent sale by heir; FEMA Form A2 + AD-1 + 7-year NRO retention + USD 1M / year LRS; FEMA prior RBI approval debated; FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance. Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC + Black Money Act 2015 + Form 3520 + Section 6662 20-40% + Section 6663 75% + Section 6677 USD 10,000 foreign trust penalty. Senior 60+ parent NRI / OCI Indian agricultural land — Section 194-IA 1% TDS NOT applicable for agricultural land below INR 50 lakh (Section 194-IA proviso); Section 50C stamp duty valuation applies on transfer of agricultural land (debated — typically agricultural land below INR 50 lakh exempt from TDS); Section 45 + 48 + 112 LTCG 20% + 4% cess on transfer of agricultural land if held > 24 months; Section 54B agricultural land rollover available for LTCG on agricultural land reinvested in 1 agricultural land within 2 years (NOT for residential / commercial).
Section 50C stamp duty valuation + Section 194-IA 1% TDS + Section 56(2)(vii) heir exempt + Section 54 + 54F rollover + Section 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + FEMA NRO 7y + 10y retention + FEMA compounding steps for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026
Step 1
Identify property classification — residential (apartment + independent house + villa + bungalow + plot) + commercial (office + shop + showroom + warehouse + industrial plot + factory) + under-construction (RERA-registered project + pre-launch + under-construction + ready-to-move-in) + agricultural (Section 194-IA 1% TDS NOT applicable for agricultural land below INR 50 lakh per Section 194-IA proviso; Section 54B rollover available) — for Section 50C + 194-IA + 195 + 54 + 54F + 24(b) + 80C + 80EEA + FEMA + DTAA + Black Money Act 2015 + Form 3520 + Section 671-679 + Section 642/664 + FEMA NRO 7y + 10y retention
Step 2
Establish cost of acquisition per Section 49(1)/(2)/(2AA)/(2B)/(2C) + Section 55(2)/(2A)/(2B)/(2)(iii) FMV 2001 + Section 50C stamp duty valuation (stamp duty value adopted by state authority deemed sale consideration if higher than actual transaction value + > 10% threshold per Section 50C(2); 50C applies ONLY to immovable property) + Indexation CII 2001 base per Section 48(ii)
Step 3
Compute LTCG 20% + 4% cess per Section 45 + 48 + 112 for holding > 24 months (immovable property); apply Section 194-IA 1% TDS above INR 50 lakh (buyer deducts + files Form 26QB quarterly TDS statement + Form 16A TDS certificate + remits to IT within 30 days); Section 195 r.w. Section 194-IA NRI TDS at applicable rate + DTAA rate; Form 15CB + CA certificate mandatory for remittance above USD 5,000 net after tax
Step 4
Apply Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative (spouse + brother + sister + lineal ascendant + lineal descendant + spouse of lineal ascendant + spouse of lineal descendant per Section 56(2)(vii) Explanation); Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for immovable property received from specified relative; Section 49(2)(iii) cost of acquisition to previous owner
Step 5
Apply Section 54 + 54F rollover for LTCG on immovable property (Section 54) / any long-term capital asset (Section 54F) reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap on new residential house cost; CGAS Capital Gains Account Scheme 6 months deposit + 2 years utilisation; Section 54B agricultural land rollover (NOT applicable to residential / commercial)
Step 6
Apply Section 80C home loan principal repayment (INR 1.5 lakh cap overall including PPF + EPF + VPF + SCSS + 5-year tax-saver FD + ELSS + tuition fees + life insurance premium + Section 80CCC + Section 80CCD(1)) + Section 24(b) interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out — typically 100% for let-out per Section 24(a)) + Section 80EEA affordable housing interest deduction (INR 1.5 lakh, home loan interest for affordable housing sanctioned between 01-04-2016 and 31-03-2017; extended in some budgets; consult CA)
Step 7
Apply FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 — NRI acquisition of immovable property subject to Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance; FEMA prior RBI approval debated for residential (typically NOT required — NRI allowed per FEMA 1999) + commercial (typically NOT required) + under-construction (debated — typically NOT required if RERA-registered)
Step 8
Apply DTAA Article 13 capital gains on immovable property + Article 6 income from immovable property — India retains full taxing right per Article 13(1) of most DTAAs (US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea etc.); Section 90(4) 8-year retention of TRC + Form 67 mandatory for any DTAA claim; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules
Step 9
Apply Black Money Act 2015 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A for foreign trust distribution / ownership + Section 6048 reporting; Form 8938 FATCA required if foreign real estate held by US person > USD 50K end-of-year (single / MFS) or > USD 300K end-of-year (MFJ); FBAR FinCEN 114 if foreign rental income account > USD 10K at any point during calendar year; Form 5471 CFC for foreign real estate company > 50% US person ownership
Step 10
Apply Section 671-679 grantor trust classification (immovable property held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040) + Section 642/664 charitable remainder (donor retains interest + charity remainder with Form 5227 split-interest + Form 1041-A charitable trust) + Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty; Section 10(20/21/23BB) registered valuer exempt + Section 23(5AA/5ABA) pension + Section 10(23C) charitable
Step 11
File ITR + Schedule CG (Capital Gains) + Schedule FA (Foreign Assets) + Schedule FSI (Foreign Source Income) + Schedule TR (Tax Relief) + Form 26AS + Form 16A + Section 90(4) 8-year retention; update municipal records + sub-registrar property mutation + RERA MahaRERA / state-RERA registration transfer; FEMA NRO + 7y + 10y retention; AD-1 + Form A2 + CA certificate Form 15CB + 7.5% TCS Section 206C(1G) above INR 50 lakh + 20% TCS Section 206CCA + FEMA ED RBI Master Direction 2024 + FIU-IND (Financial Intelligence Unit India) PMLA reporting mandatory for Indian crypto exchange / foreign property remittance
Section 194-IA + 50C + 45 + 48 + 112 + 24(b) + 80C + 80EEA + 54 + 54F + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding + senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026 diagram
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Senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA Section 194-IA + 50C + 45 + 48 + 112 + 56(2)(vii) + 54 + 54F + 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + FEMA NRO 7y + 10y retention + FEMA compounding checklist
- Classify property as residential + commercial + under-construction + RERA + agricultural before anything else
- Apply Section 50C stamp duty valuation — stamp duty value deemed sale consideration if higher + > 10% threshold per Section 50C(2)
- Compute LTCG 20% + 4% cess per Section 45 + 48 + 112 for holding > 24 months (immovable property) with Indexation CII 2001 base per Section 48(ii)
- Apply Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB + Form 16A within 30 days
- Apply Section 195 NRI TDS at applicable rate + DTAA rate; Form 15CB + CA certificate mandatory for remittance above USD 5,000 net after tax
- Apply Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative
- Apply Section 56(2)(xi) deemed gift > INR 50,000 (recipient hands) — NOT applicable for immovable property received from specified relative
- Apply Section 49(2)(iii) cost of acquisition to previous owner + Section 49(2AA)/(2B)/(2C) holding period to previous owner
- Apply Section 54 + 54F rollover for LTCG on immovable property / any long-term capital asset reinvested in 1 residential house within 2y before / 2y after / 3y construct
- Apply CGAS Capital Gains Account Scheme 6 months deposit + 2 years utilisation for Section 54 + 54F
- Apply Section 54B agricultural land rollover for LTCG on agricultural land reinvested in 1 agricultural land within 2 years
- Apply Section 80C home loan principal repayment (INR 1.5 lakh cap overall) — only for new home loan taken on inherited / purchased property
- Apply Section 24(b) interest deduction — INR 2 lakh self-occupied + INR 30,000 debated for let-out — typically 100% for let-out per Section 24(a)
- Apply Section 80EEA affordable housing interest deduction (INR 1.5 lakh) if affordable housing criteria met (home loan sanctioned between 01-04-2016 and 31-03-2017; extended in some budgets; consult CA)
- Apply FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 + Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention
- Apply FEMA prior RBI approval — typically NOT required for residential + commercial + under-construction (RERA-registered) NRI acquisition
- Apply FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance
- Apply DTAA Article 13 capital gains on immovable property + Article 6 income from immovable property — India retains full taxing right per Article 13(1) of most DTAAs
- Apply Section 90(4) 8-year retention of TRC + Form 67 mandatory for any DTAA claim; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules
- Apply Section 90(5) limitation of benefits + panchnama if AO suspects non-genuine treaty claim; Section 285BA AIR + Form 61A
- Apply Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets
- Apply Form 3520 + Form 3520-A for foreign trust distribution / ownership + Section 6048 reporting; Form 5471 CFC for foreign real estate company > 50% US person ownership
- Apply Form 8938 FATCA required if foreign real estate held by US person > USD 50K end-of-year (single / MFS) or > USD 300K end-of-year (MFJ)
- Apply FBAR FinCEN 114 if foreign rental income account > USD 10K at any point during calendar year
- Apply Section 671-679 grantor trust — immovable property held by foreign grantor trust for US person: grantor reports 100% trust income on Form 1040
- Apply Section 642/664 charitable remainder — donor retains interest + charity remainder with Form 5227 split-interest + Form 1041-A charitable trust
- Apply Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty for non-compliance
- Apply Section 10(20/21/23BB) registered valuer exempt + Section 23(5AA/5ABA) pension + Section 10(23C) charitable
- Apply RERA Act 2016 Section 14 + 18 buyer protection + Section 15 promoter duties + MahaRERA / state-RERA registration transfer on inheritance
- Apply Indian Succession Act 1925 Section 63 + Will + codicil + executor + LoA + succession certificate; Hindu Succession Act 1956 Section 6 coparcener
- Apply Indian Trust Act 1882 Section 3+5+6 trust deed + ILIT (Irrevocable Life Insurance Trust) + SLAT (Spousal Lifetime Access Trust) + GRAT + IDGT + Dynasty + FGT + private family trust + HUF
- Apply FEMA ED RBI Master Direction 2024 + PMLA FIU-IND (Financial Intelligence Unit India) reporting mandatory for Indian property remittance + 7.5% TCS Section 206C(1G) above INR 50 lakh + 20% TCS Section 206CCA
- File ITR + Schedule CG + Schedule FA + Schedule FSI + Schedule TR + Form 26AS + Form 16A + Section 90(4) 8-year retention
- Update municipal records + sub-registrar property mutation + RERA MahaRERA / state-RERA registration transfer; FEMA NRO + 7y + 10y retention
- Consult CA + lawyer + FEMA expert + RERA lawyer + Section 90(5) limitation of benefits + Section 671-679 grantor trust + Estate Tax Treaty + Gift Tax Treaty + US Form 1040 + Schedule D + Form 706 + Form 709 + Form 3520 + Form 3520-A + Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC + PFIC Form 8621 if applicable
Senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA Section 194-IA + 50C + 45 + 48 + 112 + 56(2)(vii) + 54 + 54F + 80C + 24(b) + 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding closing
Senior 60+ parent estate NRI / OCI parent Indian real estate — residential + commercial + under-construction + RERA — is the heaviest asset class in the personal-finance compliance book. Section 50C stamp duty valuation + Section 194-IA 1% TDS + Section 45 + 48 + 112 LTCG 20% + 4% cess + Section 56(2)(vii) FULL EXEMPT for heir + Section 56(2)(xi) deemed gift + Section 54 + 54F rollover + CGAS + Section 80C + Section 24(b) + Section 80EEA + FEMA USD 1M / year + DTAA Article 13 + 6 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding — every section, every form, every treaty, every retention clock points at the same property file. The senior 60+ parent estate NRI parent must choose between ordinary compliance — full Section 194-IA + 195 + DTAA + FEMA + Black Money Act + FATCA + FBAR + 671-679 — and grandfathered past acquisitions — old Section 50C + 56(2)(vii) + 49(2)(iii) cost + holding period + Section 54 + 54F rollover. Once the heir receives immovable property, the Section 49(2)(iii) cost-inheritance + Section 49(2AA)/(2B)/(2C) holding-period-inheritance kicks in; Section 56(2)(vii) FULL EXEMPT fires on heir hands; Section 50C stamp duty valuation + Section 194-IA 1% TDS applies on subsequent sale. The 7-year NRO retention + 10-year US/UK/CA/AU retention + Section 90(4) 8-year retention + Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty + FEMA compounding penalty up to 3x are all ticking in parallel. The cluster ties together 7 articles — NRI parent inherited property + Will + heir + Section 45 + 47(vii) + 49 + 56(2)(vii) → NRI parent capital gains Section 45 + 48 + 50C + 54 + 54F + 54B + 54EC + 111A + 112 + STT + Indexation + 194-IA + 195 + FEMA USD 1M / year → NRI parent US income tax Form 1040 + Schedule D + FBAR + FATCA + PFIC + CFC → NRI parent US estate tax + gift tax + GSTT + Section 877A + Form 706 + 709 + Estate Tax Treaty + Gift Tax Treaty → NRI parent Indian mutual fund + SIP + SWP + STP → NRI parent Indian AIF Category I + Category II + Category III + PMS → NRI parent Indian bonds + NCD + debentures + Government Securities + RBI Bonds + Section 54EC REC + NHAI + IRFC + PFC → NRI parent Indian Bank FD + SCSS + POMIS + PPF + RBI FRSB + Section 80C + 80TTB + 193 + 80D + 80DDB → NRI parent Indian Gold + Silver + Bullion + Jewellery + Diamond + Platinum → NRI parent Indian Crypto + VDA + Bitcoin + Ethereum + USDT + Section 194S + 115BBH → NRI parent Indian Insurance + Life Insurance + LIC + ULIP + Health Insurance + Senior Citizen Health Insurance + Section 80C + 80D + 80DDB + Section 10(10D) + Section 194DA — and now NRI parent Indian Real Estate + Residential + Commercial + Under-construction + RERA + Section 194-IA 1% TDS + Section 50C stamp duty valuation + Section 56(2)(vii) heir exempt + Section 54 + 54F + Section 80C + Section 24(b) + Section 80EEA + FEMA USD 1M / year + DTAA + TRC + Form 67 + Section 90(4) 8-year + Black Money Act 2015 + Form 3520 + FEMA NRO 7y + 10y retention + FEMA compounding. Cross-link rule: every new article in this cluster must link to the prior article in the chain so that the cluster reads as one continuous thread of senior 60+ parent NRI / OCI compliance.
Bottom line for the senior 60+ parent estate NRI / OCI parent: Indian real estate is the heaviest asset class — every Section + every form + every treaty + every retention clock converges on the property file. Section 50C + 194-IA + 195 + 45 + 48 + 112 + 56(2)(vii) + 54 + 54F + 80C + 24(b) + 80EEA + FEMA + DTAA + Black Money Act 2015 + Form 3520 + Form 8938 FATCA + FBAR FinCEN 114 + Section 671-679 + Section 642/664 + FEMA NRO 7y + 10y retention + FEMA compounding — the senior 60+ parent estate NRI parent must coordinate CA + lawyer + FEMA expert + RERA lawyer + US tax preparer jointly. For a single-property family holding the typical chain is: senior 60+ parent NRI / OCI acquires Indian property via FEMA USD 1M / year LRS + Form A2 + AD-1; property registered at sub-registrar + RERA MahaRERA if under-construction; senior 60+ parent NRI / OCI holds for > 24 months; on death of senior 60+ parent, Indian Succession Act 1925 + Will + codicil + executor + LoA + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed + FEMA NRO for heir; heir inherits per Section 49(2)(iii) cost + Section 49(2AA)/(2B)/(2C) holding period + Section 56(2)(vii) FULL EXEMPT for heir from specified relative; heir sells after holding period, pays LTCG 20% + 4% cess per Section 45 + 48 + 112 + Section 50C stamp duty valuation + Section 194-IA 1% TDS above INR 50 lakh; applies Section 54 + 54F rollover; files ITR + Schedule CG + Schedule FA + Schedule FSI + Schedule TR + Form 26AS + Form 16A; retains TRC + Form 67 for 8 years per Section 90(4); reports Form 8938 FATCA + FBAR FinCEN 114; rents property + pays Section 194-I 10% TDS (debated) + Section 195 NRI TDS; repatriates via FEMA NRO after 7-year retention within USD 1M / year LRS; files Form 3520 + Form 3520-A if foreign trust holds the property; pays Section 6662 20-40% accuracy penalty + Section 6663 75% fraud penalty + Section 6677 USD 10,000 foreign trust penalty if undisclosed; FEMA compounding penalty up to 3x per FEMA 1999 Section 13. The compliance choreography is repetitive but the risk surface is wide — Section 50C alone can convert a small profit into a large deemed sale consideration; Section 194-IA non-deduction by buyer is buyer liability; Section 56(2)(vii) FULL EXEMPT for heir is the only clean relief. Senior 60+ parent estate NRI / OCI Indian real estate holding is governed by every layer simultaneously — there is no shortcut, no opt-out, no small case exemption. Always engage CA + lawyer + FEMA expert + RERA lawyer + US tax preparer jointly.
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Senior 60+ parent NRI / OCI sells Indian residential property — what is the LTCG rate, holding period, TDS, stamp duty valuation, Section 56(2)(vii) heir exempt, Section 54 + 54F rollover, Section 80C + 24(b) + 80EEA deduction stack, FEMA USD 1M / year, DTAA, Black Money Act 2015, Form 3520, FEMA NRO 7y + 10y retention, FEMA compounding treatment for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026?
Senior 60+ parent NRI / OCI Indian residential property — apartment + independent house + villa + bungalow + plot — selling triggers Section 50C stamp duty valuation (stamp duty value adopted by state authority deemed sale consideration if higher than actual transaction value + > 10% threshold per Section 50C(2); 50C applies ONLY to immovable property). Section 45 + 48 + 112 LTCG 20% + 4% cess for holding > 24 months (immovable property) with Indexation CII 2001 base per Section 48(ii). Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB quarterly TDS statement + Form 16A TDS certificate + remits to IT within 30 days. Section 195 NRI TDS at applicable rate + DTAA rate; Form 15CB + CA certificate mandatory for remittance above USD 5,000 net after tax. Senior 60+ parent heir receiving immovable property inherits cost of acquisition to previous owner per Section 49(2)(iii); Section 49(2AA)/(2B)/(2C) holding period to previous owner; Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative (spouse + brother + sister + lineal ascendant + lineal descendant + spouse of lineal ascendant + spouse of lineal descendant per Section 56(2)(vii) Explanation). Section 54 + 54F rollover available for LTCG on immovable property (Section 54) / any long-term capital asset (Section 54F) reinvested in 1 residential house within 2y before / 2y after / 3y construct; once-in-lifetime; INR 2 crore cap on new residential house cost; CGAS Capital Gains Account Scheme 6 months deposit + 2 years utilisation. Section 80C home loan principal repayment (INR 1.5 lakh cap overall); Section 24(b) interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out — typically 100% for let-out per Section 24(a)); Section 80EEA affordable housing interest deduction (INR 1.5 lakh, home loan interest for affordable housing sanctioned between 01-04-2016 and 31-03-2017; extended in some budgets; consult CA). FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 + Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention + FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance. DTAA Article 13 capital gains on immovable property + Article 6 income from immovable property — India retains full taxing right per Article 13(1) of most DTAAs (US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea etc.); Section 90(4) 8-year retention of TRC + Form 67 mandatory for any DTAA claim; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules; Section 90(5) panchnama if AO suspects non-genuine treaty claim; Section 285BA AIR + Form 61A. Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Form 8938 FATCA required if foreign real estate held by US person > USD 50K end-of-year (single / MFS) or > USD 300K end-of-year (MFJ); FBAR FinCEN 114 if foreign rental income account > USD 10K at any point during calendar year; Form 5471 CFC for foreign real estate company > 50% US person ownership; Section 671-679 grantor trust + Section 642/664 charitable remainder; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
Senior 60+ parent NRI / OCI rents out Indian residential property — what is the rental income treatment, Section 194-I TDS, Section 195 NRI TDS, DTAA Article 6, FEMA USD 1M / year repatriation, Black Money Act 2015, Form 3520, FEMA NRO treatment for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026?
Senior 60+ parent NRI / OCI Indian residential rental income — apartment + independent house + villa + bungalow + plot — receiving rent triggers Section 22 house property income + Section 24(a) standard deduction 30% + Section 24(b) interest deduction (INR 2 lakh self-occupied + INR 30,000 debated for let-out — typically 100% for let-out per Section 24(a) + no cap for let-out). Section 25A unrealised rent + Section 25B arrears of rent received. Section 194-I 10% TDS on rental income (above INR 2.4 lakh / year for plant + machinery; above INR 1.8 lakh / year for residential + commercial property — Section 194-I thresholds revised); Section 195 r.w. Section 194-I NRI TDS at applicable rate + DTAA rate; tenant deducts TDS + files Form 26Q + Form 16A + remits to IT. Section 197 lower-rate certificate + Form 13 to claim DTAA benefit; Form 15G + Form 15H senior 80+ to avoid TDS on small rental income (typically not used for NRI rental income). Section 90(4) 8-year retention of TRC + Form 67 mandatory per Section 90(4); Section 90(5) panchnama. FEMA — rental income repatriation allowed immediately per FEMA 1999 + RBI Master Direction 2024 (no 7-year retention for rental income); Form A2 + AD-1 + CA certificate Form 15CB; USD 1M / year LRS limit applicable. Senior 60+ parent heir receiving rental property inherits cost of acquisition to previous owner per Section 49(2)(iii); Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 22 + 24(a) + 24(b) + 25A + 25B applies for heir. DTAA Article 6 income from immovable property — India retains taxing right on rental income from Indian property per Article 6 of most DTAAs (US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea etc.). Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Form 8938 FATCA required if foreign rental income held by US person > USD 50K; FBAR FinCEN 114 if foreign rental income account > USD 10K; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
Senior 60+ parent NRI / OCI dies holding Indian residential property — what is the inheritance route, Section 49(2)(iii) cost, Section 49(2AA)/(2B)/(2C) holding period, Section 56(2)(vii) FULL EXEMPT for heir, Section 50C stamp duty valuation, FEMA NRO 7y retention, FEMA USD 1M / year repatriation, DTAA, Estate Tax Treaty, Gift Tax Treaty, Black Money Act 2015, Form 3520 treatment for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026?
Senior 60+ parent NRI / OCI dies holding Indian residential property — apartment + independent house + villa + bungalow + plot — heir receives property per Indian Succession Act 1925 Section 63 + Will + codicil + executor + LoA + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed. Section 56(2)(vii) FULL EXEMPT for heir receiving immovable property from specified relative (spouse + brother + sister + lineal ascendant + lineal descendant + spouse of lineal ascendant + spouse of lineal descendant per Section 56(2)(vii) Explanation); Section 56(2)(xi) deemed gift > INR 50,000 NOT applicable for immovable property received from specified relative. Section 49(2)(iii) cost of acquisition to previous owner + Section 49(2AA)/(2B)/(2C) holding period to previous owner; Section 55(2)(iii) FMV 2001 as cost of acquisition for property acquired before 01-04-2001. Heir property mutation at sub-registrar + municipal records transfer + RERA MahaRERA / state-RERA registration transfer (if under-construction). FEMA — heir receives immovable property through inheritance non-repatriable for 7 years (RBI Circular 47/2015 + 12/2015); after 7y, repatriation permitted within USD 1M / year LRS; AD-1 + Form A2 + CA certificate Form 15CB mandatory for > USD 5000 net after tax; FEMA compounding penalty up to 3x per FEMA 1999 Section 13. 10-year US/UK/CA/AU retention for inheritance from person domiciled there. FEMA NRO repatriation within USD 1M / year LRS after retention. Section 194-IA 1% TDS above INR 50 lakh applies on subsequent sale by heir; Section 50C stamp duty valuation applies on subsequent sale by heir (stamp duty value as on date of transfer); Section 45 + 48 + 112 LTCG 20% + 4% cess with Section 49(2)(iii) inherited cost + Section 49(2AA)/(2B)/(2C) inherited holding period. DTAA Article 13 capital gains on immovable property — India retains full taxing right per Article 13(1) of most DTAAs (US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea etc.); Section 90(4) 8-year retention of TRC + Form 67 mandatory; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules. Estate Tax Treaty + Gift Tax Treaty for US / UK / CA / AU estate / gift tax on Indian real estate (US-India Estate Tax Treaty 1957 has saving clause + Article 5 immovable property + Article 11 deduction); Form 706-NA + Form 706 for US estate tax; Form 709 for US gift tax; Section 877A expatriation tax. Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Section 671-679 grantor trust; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
Senior 60+ parent NRI / OCI acquires Indian commercial property — what is the Section 45 + 48 + 50C + 112 LTCG 20% + 4% cess treatment, Section 194-IA 1% TDS, Section 194-I 10% TDS on rental income, Section 195 NRI TDS, FEMA USD 1M / year, DTAA Article 6 + 13, Black Money Act 2015, Form 3520, FEMA NRO treatment for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026?
Senior 60+ parent NRI / OCI Indian commercial property — office + shop + showroom + warehouse + industrial plot + factory — acquiring triggers FEMA USD 1M / year LRS per FEMA 1999 + RBI Master Direction 2024 + Form A2 + AD-1 + 7-year NRO retention + 10-year US/UK/CA/AU retention; FEMA prior RBI approval typically NOT required for NRI acquisition of commercial property (NRI allowed per FEMA 1999). Section 50C stamp duty valuation applies on transfer. Section 45 + 48 + 112 LTCG 20% + 4% cess for holding > 24 months with Indexation CII 2001 base per Section 48(ii). Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB + Form 16A within 30 days; Section 195 NRI TDS at applicable rate + DTAA rate. Section 194-I 10% TDS on rental income (above INR 2.4 lakh / year for plant + machinery; above INR 1.8 lakh / year for residential + commercial property — Section 194-I thresholds revised); Section 195 r.w. Section 194-I NRI TDS at applicable rate + DTAA rate. Senior 60+ parent heir receiving commercial property inherits cost of acquisition to previous owner per Section 49(2)(iii); Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 50C stamp duty valuation applies on subsequent sale by heir; Section 194-I rental income for heir. DTAA Article 13 capital gains on immovable property + Article 6 income from immovable property — India retains full taxing right per Article 13(1) + Article 6 of most DTAAs (US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea etc.); Section 90(4) 8-year retention of TRC + Form 67 mandatory; CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules; Section 90(5) panchnama if AO suspects non-genuine treaty claim. Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Form 8938 FATCA + FBAR FinCEN 114 + Form 5471 CFC for foreign real estate company > 50% US person ownership; Section 671-679 grantor trust; Section 642/664 charitable remainder; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
Senior 60+ parent NRI / OCI acquires Indian under-construction property — what is the RERA Section 14 + 18 buyer protection, Section 15 promoter duties, MahaRERA / state-RERA registration, Section 45 + 48 + 50C + 112 LTCG 20% + 4% cess treatment, Section 194-IA 1% TDS, FEMA USD 1M / year, DTAA, Black Money Act 2015, Form 3520 treatment for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026?
Senior 60+ parent NRI / OCI Indian under-construction property — RERA-registered project + pre-launch + under-construction + ready-to-move-in — acquiring triggers RERA Act 2016 Section 14 + 18 buyer protection + Section 15 promoter duties + MahaRERA / state-RERA registration. Section 50C stamp duty valuation applies on transfer (stamp duty value of land + construction as on date of transfer). Holding period for LTCG purposes includes pre-construction booking date if registered agreement (RERA-registered agreement); Section 45 + 48 + 112 LTCG 20% + 4% cess for holding > 24 months with Indexation CII 2001 base per Section 48(ii). Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB + Form 16A within 30 days (debated — typically TDS applies on each installment paid + on final transfer); Section 195 NRI TDS at applicable rate + DTAA rate; Form 15CB + CA certificate mandatory for remittance above USD 5,000 net after tax. Senior 60+ parent heir receiving under-construction property inherits registered agreement per RERA Act 2016 + Will + codicil + executor + LoA + succession certificate + Hindu Succession Act 1956 Section 6 coparcener + Indian Trust Act 1882 Section 3+5+6 trust deed; Section 56(2)(vii) FULL EXEMPT for heir from specified relative; Section 49(2)(iii) cost of acquisition to previous owner; Section 49(2AA)/(2B)/(2C) holding period to previous owner; Section 50C stamp duty valuation applies on subsequent sale by heir; RERA MahaRERA / state-RERA registration transfer. FEMA Form A2 + AD-1 + 7-year NRO retention + USD 1M / year LRS; FEMA prior RBI approval debated; FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance. DTAA Article 13 capital gains on immovable property + Article 6 income from immovable property — India retains full taxing right per Article 13(1) + Article 6 of most DTAAs (US + UK + Canada + Australia + Singapore + UAE + Mauritius + Cyprus + Netherlands + Germany + France + Japan + Korea etc.); Section 90(4) 8-year retention of TRC + Form 67 mandatory. Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Form 8938 FATCA + FBAR FinCEN 114; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
Senior 60+ parent NRI / OCI repatriates sale proceeds of Indian property — what is the FEMA USD 1M / year LRS limit, 7-year NRO retention, 10-year US/UK/CA/AU retention, Form A2 + AD-1, CA certificate Form 15CB, FEMA compounding penalty, Section 195 r.w. 194-IA TDS, DTAA Article 13, Section 90(4) 8-year retention, Black Money Act 2015, Form 3520, FEMA NRO treatment for senior 60+ parent estate NRI parent Indian Real Estate Residential Commercial Under-construction RERA India 2026?
Senior 60+ parent NRI / OCI repatriating sale proceeds of Indian property — apartment + independent house + villa + bungalow + plot + commercial + under-construction — triggers FEMA 1999 Section 6(3) + Schedule 1 + RBI Master Direction 2024 + Form A2 + AD-1 + CA certificate Form 15CB. USD 1M / year LRS limit per FEMA 1999 + RBI Master Direction 2024 — repatriation of sale proceeds within LRS limit allowed after 7-year NRO retention for inherited immovable property (RBI Circular 47/2015 + 12/2015); 10-year US/UK/CA/AU retention for inheritance from person domiciled there; rental income repatriation allowed immediately (no 7-year retention for rental income per FEMA 1999 + RBI Master Direction 2024). FEMA compounding penalty up to 3x per FEMA 1999 Section 13 for non-compliance. Section 195 r.w. Section 194-IA NRI TDS at applicable rate + DTAA rate credited against DTAA Article 13 capital gains on immovable property (India retains full taxing right per Article 13(1) of most DTAAs); Section 197 lower-rate certificate + Form 13 to claim DTAA benefit. Section 90(4) 8-year retention of TRC + Form 67 mandatory per Section 90(4); CBDT Notification 3/2022 + Circular 11/2022 + 12/2022 stricter rules; Section 90(5) panchnama if AO suspects non-genuine treaty claim. Section 90(5) limitation of benefits + Section 285BA AIR + Form 61A. Section 194-IA 1% TDS above INR 50 lakh — buyer deducts + files Form 26QB + Form 16A within 30 days. Senior 60+ parent heir selling inherited property after 7-year NRO retention + 10-year US/UK/CA/AU retention — repatriation within USD 1M / year LRS; AD-1 + Form A2 + CA certificate Form 15CB mandatory for > USD 5,000 net after tax. Estate Tax Treaty + Gift Tax Treaty for US / UK / CA / AU estate / gift tax on Indian real estate (US-India Estate Tax Treaty 1957 has saving clause + Article 5 immovable property + Article 11 deduction); Form 706-NA + Form 706 for US estate tax; Form 709 for US gift tax; Section 877A expatriation tax. Black Money Act 2015 — 30% tax + 30% penalty Section 10/11 BMA for undisclosed foreign income / assets + Form 3520 + Form 3520-A + Section 6048 reporting; Form 8938 FATCA required if foreign real estate held by US person > USD 50K end-of-year (single / MFS) or > USD 300K end-of-year (MFJ); FBAR FinCEN 114 if foreign rental income account > USD 10K at any point during calendar year; Form 5471 CFC for foreign real estate company > 50% US person ownership; Section 671-679 grantor trust; Section 642/664 charitable remainder; Section 6662 20-40% accuracy + Section 6663 75% fraud + Section 6677 USD 10,000 foreign trust penalty.
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