Tax rules for selling jointly-owned property by residents and NRIs
When selling a property co-owned with NRIs, capital gains are determined individually for every owner based on their specific share. Residents who bought the property prior to July 23, 2024, have the option to select either a 20% tax rate with indexation benefits or a 12.5% rate without them. Meanwhile, NRIs are subject to a 12.5% tax rate on these gains without indexation, plus any relevant cess and surcharge.
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