Thanks hope this forum should be a great use.
Please help me with following questions:
Am planning to sell agricultural land in india worth of 2 crore and send to my son who is an NRI.I know that i can send through Property inheritance of sale deed to my son.The market value of the land is 2 crore and the govt.value is 75 lakhs.My questions
1.If i sell the land for market value (2crore) how can i send the money for the govt value of 75 lakhs.
2.what are my tax worries here?
What % of tax leived for sale of agri.land?
3.What are the other modes of outward remittance which eases riskless tranactions?
Pleas help me members
Please help me with following questions:
Am planning to sell agricultural land in india worth of 2 crore and send to my son who is an NRI.I know that i can send through Property inheritance of sale deed to my son.The market value of the land is 2 crore and the govt.value is 75 lakhs.My questions
1.If i sell the land for market value (2crore) how can i send the money for the govt value of 75 lakhs.
2.what are my tax worries here?
What % of tax leived for sale of agri.land?
3.What are the other modes of outward remittance which eases riskless tranactions?
Pleas help me members