Quote:
Originally Posted by andyk2
Hi Nick,
I´ve been looking at investments in India for my clients for almost a year. The Central bank of India records all monies coming in and only lets the same amount of money out. Therefore, if you make a profit - that has to stay in India!
I have asked several people if there is a way around this, and nobody has yet come up with a legal answer!
Please let me know if you have one
Thanks,
Andy
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I got this from an agent who specialises in investment property in India
If you hold the property for less than 3 years it is 30% capital gains tax but if you hold after 3 years it is 10%.
Furthermore CGT is index linked to inflation so that for example you bought a property for 100 euros and sold it 4 years later for 200 euros and inflation was 25% during that time. That would mean your cost is recalculated from 100 euros to 125 euros. so that you pay CGT on 75 euros
If you sell a property and buy another within 6 months there is no CGT.