Non-resident Indians are one of the major investors in the Indian real estate market. With an expectation of gaining a high return on investment, NRIs invest their hard-earned money to convert it into a lucrative source of income. It is well-known that on selling any kind of property, NRIs are taxed in India based on capital gains. However, you will be amazed to know that you can save tax on capital gains under different sections of the Indian Income Tax Act.

Here’s how you can save on tax levied on your capital gains:

With uncertainties brewing during the pandemic, followed by subsequent lockdowns, the Indian economy and real estate market faced a major backdrop, disrupting the trend of rentals, purchase, and leasing in Indian real estate market. However, it is now resurgent, becoming a hot topic among investors. India being one of the major investment countries, its promising market attracts NRIs from USA, UK, UAE, and Canada due to high return on investments, propelling economy, and several options available in the locations.

The Indian real estate market is a booming sector and is one of the major attractions for investment, not only for Indians but also for non-resident Indians. NRIs from APAC, Europe, and particularly the Middle East have made significant investments in India. According to the recent forecast, the Indian real estate market is anticipated to grow by 12% from $13 billion to $15 billion in FY22.