The Challenge
An NRI family based in the UAE had inherited a residential property in Kerala and intended to sell it. However, they faced a tangle of legal and procedural hurdles in India, including:
Understanding the taxation involved for NRIs selling property
Ensuring accurate capital gains calculation and TDS deduction
Meeting FEMA documentation requirements for repatriating sale proceeds
Delays due to unclear paperwork and lack of coordination between parties
Our Approach
CA Lekshmi & Associates stepped in with a structured and compliant approach
Capital Gains Advisory
Verified purchase/inheritance history and applied indexed cost for accurate long-term capital gains reporting
TDS & Tax Filing
Coordinated with the buyer and registrar to ensure appropriate TDS deduction and correct reporting in the seller’s tax return
FEMA Documentation
Guided the client through the RBI-prescribed process for repatriation, including Form 15CB/15CA and supporting documents
Bank Liaison
Collaborated with the client’s bank in India to ensure smooth credit and outward remittance in accordance with RBI limits
The Outcome
Property Sold Without Disputes: End-to-end assistance resulted in a successful and legally compliant property sale
Accurate Tax Computation & Timely Filing: Ensured smooth processing and no mismatch issues with the tax department
Repatriation Completed Under FEMA: Funds remitted without penalty or delay
Built Ongoing Trust: Client has since consulted the firm for investment structuring and return filing in subsequent years
Professional Impact
Clients across sectors trust Lekshmi N Iyer & Associates for consistent regulatory guidance, clarity in tax positions, and timely service delivery
Our methodical approach to cross-border compliance helps businesses stay audit-ready year-round.
