The latest Indian budget has a set of changes that impact real estate laws. We’re going to cover a series of issues and potential taxation pitfalls to be aware of over the next few posts.
This brings us much closer to the US tax rate of 23.8% (inclusive of NIIT). These taxes paid in India are creditable In the US against federal tax but not state taxes. Talk to your accountant to see if it makes sense to start thinking about selling property in India and if reinvestment options in India are right for you.
