I had booked a flat in India but moved to the US soon after. Upon allotment my brother in law paid for it and effectively owned it since except it stayed under my name. My brother in law has since moved to London and wants to now sell it. I don’t have an Indian account and have been told I have to open an NRO account for the sale proceeds. So far so good? I have been told that Indian authorities will charge a tax of 23% at source and I will be able to repatriate the monies to my brother in law’s account in the UK. Question I have is that will I then have to pay US tax as well effectively leading to double taxation even though I have never owned the property? Is there a more effective way?2 replies 0 helpful answers Last Updated: 3 months, 1 week ago
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