I am a US citizen and am planning to sell some land in India. Does anyone have any experience in terms of how the it would be taxed if I received the payment in India vs in US?
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FBAR
I wonder is it really that hard to see the bell on top and wonder what it does.
It would be taxed at exactly the same rate in both cases.
Are you Indian
Not if he’s American. India doesn’t allow dual citizenship so this should make no difference to the Indian government.
No am American!
Just bring cash in briefcases
Check out his blog: nitinbhatia.in There is a lot of info on this topic. Or better schedule a phone consultation with him so that he can walk you through the process.
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For US, this may be treated as selling an investment property. Federal and state taxes will be due for any profit. You may also need to pay taxes in India as per Indian tax law. But because of the dual tax avoidance scheme, part or most of Indian tax will be refunded to you when you file your US tax.
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