Acron lease sale
May 4th 2009, 3:16 pm
#1
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Acron lease sale
I have an Acron property purchased via the renewable lease method as I am not of Indian origin. I have been made an offer of a sale from the guy who originally sold it to me (he no longer works for Acron I think) and in this climate I am seriously considering accepting. Has anyone ever done this before and can anyone advise legal help to make sure it all goes smoothly. I have been told I will be liable to capital gains tax and don't know if this is correct for a lease?
May 4th 2009, 4:33 pm
#2
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Re: Acron lease sale
I have an Acron property purchased via the renewable lease method as I am not of Indian origin. I have been made an offer of a sale from the guy who originally sold it to me (he no longer works for Acron I think) and in this climate I am seriously considering accepting. Has anyone ever done this before and can anyone advise legal help to make sure it all goes smoothly. I have been told I will be liable to capital gains tax and don't know if this is correct for a lease?
my believe you will only pay capital gains on money gained over what you originally paid for the house.I asked this question of the RBI when I was out in Goa in April.You can reparitate the orginal cost of the house providing you have all your FIRCs for the payment of your property any thing over this amount you pay Capital gains
Good luck
GC
