I am in the process of selling my Mumbai flat, bought from NRE funds during 2006-2007.

I-T returns need to filed to repatriate the sale proceeds to Canada, besides other formalities for which services of a CA would be helpful.

could anyone recommend me a reliable CA in Mumbai? I plan to visit Mumbai in 2 months.

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Many

Since you already sold it, it will be good to know the details about the following terms and abbreviations and the forms that we will be using in our Jargon from here on..

NRO ACCOUNT..: When do we need one. ( You might already have one by now.)

DEEMED DISPOSITION.: First question.. When did you enter Canada. ?

Form 15 CA. Your Accountant will be able to help you with this. Also you have it in front of you now.

http://incometaxindiaefiling.gov.in/

Form. 15 CB. : Will also need to know about this form. It is a valid link and opens up when I copy and paste into a separate page.
http://www.incometaxindia.gov.in/forms/income-tax%20rules/103120000000007843.pdf

ARE WE HOME YET.: After your Accountant calculates the Capital Gains that this Fixed Asset generated, you will have to add this to the Income Tax Returns here in Canada in Schedule 3 and report the same. The blow will be slightly soft, because of the date of Deemed Disposition. I know it is painful. But cannot help the same.

FH.

I used the services of one Mr.Bhave, there in Mumbai. Lost his where abouts. But I can call and get the same to you by the week end.

Please verify the exact amount that they will permit you to move out of India. It changes.
http://www.simplifiedlaws.com/liberalised-remittance-money-transfer-out-of-india/


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Originally posted by Many

I am in the process of selling my Mumbai flat, bought from NRE funds during 2006-2007.

I-T returns need to filed to repatriate the sale proceeds to Canada, besides other formalities for which services of a CA would be helpful.

could anyone recommend me a reliable CA in Mumbai? I plan to visit Mumbai in 2 months.

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Hi,

I have a friend , |CA who can help you, pls message me, if you need his details.

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mor

Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.

Thank you FH and Peacock1

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Many

I have messaged Peacock1 et thanks.

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Many