Selling Your Pune Property as an NRI — Transitioning from Management to Sale

By Advocate Ketan Palshikar | Property Lawyer and Property Manager, Pune

Selling a property in Pune when you live abroad is not simply finding a buyer and signing documents. It involves a sequence of legal, tax, and compliance steps that must happen in the right order — and several of them have consequences if they go wrong that cannot be easily corrected after the fact.

The TDS that the buyer must deduct on the sale consideration — at rates significantly higher than for resident sellers — catches many NRI sellers off guard. The capital gains tax position, the FEMA compliance for repatriating the sale proceeds, the title document preparation, the tenant vacation if the property is currently rented — each of these is a discrete process that must be planned, not discovered at the last minute.

This page covers the complete process of selling a Pune property as an NRI — from the decision to sell through to the repatriation of proceeds abroad. It also explains how the transition from management to sale works under this arrangement — specifically the advantages that come from having your property’s title documents in order and your tenancy properly managed before the sale begins.

On This Page

The Decision to Sell — Planning the Transition

The decision to sell an NRI property in Pune is rarely spontaneous. It typically follows one of several situations:

  • A long-term investment that has appreciated and the owner wants to realise the gain
  • Inherited property that the heirs do not intend to use or manage
  • A property that has become difficult to manage from abroad
  • Return to India being planned — and the Pune property being surplus
  • A need for liquidity that the property’s value can provide

Regardless of the reason, the transition from management to sale requires planning — ideally six to twelve months before the intended sale date. The steps that take the most time — tenant vacation, title document preparation, Lower Deduction Certificate application — cannot be compressed regardless of how urgent the sale feels.

The minimum preparation timeline:

StepMinimum Time Required
Decision to sell to initiating tenant vacationImmediate — notice period per agreement
Tenant vacation notice period1-3 months per agreement terms
Title document assembly and Encumbrance Certificate2-4 weeks
Lower Deduction Certificate application and issue4-8 weeks
Property presentation and buyer search4-12 weeks depending on market
Agreement to Sale to Sale Deed registration2-4 months typically
TDS credit and income tax return filingAnnual cycle
FEMA repatriation after tax compliance2-4 weeks after tax clearance

A seller who expects to sell within four weeks of deciding to sell is setting expectations that the process cannot meet. A seller who plans twelve months ahead can manage each step without pressure.

Title Document Preparation

The first practical step in preparing a property for sale is ensuring that the title documents are in order. A buyer’s lawyer — in any properly conducted transaction — will review the title documents carefully. Gaps or discrepancies identified during buyer due diligence delay the sale and, in some cases, cause it to collapse.

Documents that must be current and accurate:

Original Sale Deed:
The document through which you acquired the property. It must be the original registered document — not a photocopy. If the original has been lost, a certified copy from the Sub-Registrar’s office can be obtained, but this takes time and the absence of the original will be a due diligence concern for the buyer.

Index II:
The extract issued by the Sub-Registrar’s office recording the registration of each document relating to the property. The Index II for your purchase should be available — and the Index II search going back at least 30 years is conducted as part of buyer due diligence.

Encumbrance Certificate:
Obtained from the Sub-Registrar’s office, the EC shows all registered transactions against the property for a specified period. A clean EC — showing no mortgage, no charge, no encumbrance — is essential for the buyer. The EC must be obtained fresh close to the date of sale — an EC obtained two years ago does not confirm the current encumbrance position.

Property Card / 7-12 Extract:
The revenue record showing ownership. The Property Card must reflect your name as the current owner — mutation must be complete. An unmutated property — still showing the previous owner’s name — creates a due diligence concern that will delay the sale.

Society Share Certificate:
For a flat in a housing society, the share certificate must be in your name and current. If it is in the previous owner’s name — a common issue in inherited property — it must be transferred before sale.

Society NOC:
The housing society must issue a No Objection Certificate confirming that all dues are current and the society has no objection to the sale. Dues must be fully current — including any special levies — before the NOC is issued.

Approved Building Plan and OC:
The buyer’s lawyer will check whether the building was constructed under a valid building plan and whether an Occupancy Certificate was issued. These are building-level documents — but the seller is expected to provide them or explain their status.

Under this management arrangement:

Title documents for properties under this arrangement are held in secure custody by this office — or their location is documented and accessible. The document status is reviewed annually. When the decision to sell is made, the document assembly process is immediate — not a search through old files.

Tenant Vacation — Managing the Transition from Rented to Sale-Ready

If the property is currently rented, the tenant must vacate before or concurrent with the sale. A buyer purchasing a property with a sitting tenant takes on the tenancy relationship — which most individual buyers are not willing to do, and which significantly affects the property’s marketability and price.

The notice process:

The Leave and License Agreement specifies the notice period for vacation — typically one to two months. The tenant must receive written notice of the decision not to renew or to terminate the tenancy, with the vacation date specified.

Critical timing issue:

The notice period cannot be shortened unilaterally. If the agreement provides for two months’ notice, the tenant has two months. A seller who finds a buyer and then discovers the tenant cannot be vacated for two months has created a timing problem for the transaction.

Planning the tenant vacation as the first step in the sale process — before the buyer search begins — avoids this problem. The property is vacant and available for inspection and handover when the buyer is found.

What if the tenant refuses to vacate:

A tenant under a registered Leave and License Agreement who refuses to vacate after proper notice has limited legal grounds for remaining. The possession recovery process under the Maharashtra Rent Control Act, 1999 is the remedy — but it takes time. This is why tenant vacation is initiated early in the sale process — so that if the tenant does not vacate voluntarily, the legal process can run its course before the sale is ready to complete.

Transition inspection:

When the tenant vacates, a full move-out inspection is conducted — condition documented, security deposit settled, keys collected. The property is then prepared for sale presentation — professional cleaning, minor repairs, airing — before buyer viewings begin.

Appointing a Sale PoA — How It Differs from Management PoA

The management PoA used in this arrangement explicitly excludes the authority to sell the property. A sale requires a separate, specific Sale PoA — executed at your explicit instruction for the specific transaction.

What a Sale PoA authorises:

A Sale PoA for an NRI property transaction authorises the holder to:

  • Execute the Agreement to Sale on your behalf
  • Execute the Sale Deed on your behalf
  • Appear before the Sub-Registrar for registration
  • Receive the sale consideration on your behalf — where specifically authorised
  • Sign all ancillary documents required for the transaction

Critical limitations that must be in the Sale PoA:

  • Specific property identified — address, survey number, registration details
  • Specific buyer identified — or buyer to be approved by you before agreement
  • Sale price range or minimum — protecting against below-market sale
  • Expiry date — a Sale PoA with no expiry is a permanent authority to sell

Execution from abroad:

The Sale PoA is executed through the same process as the management PoA — at the Indian Consulate or through Notary Public and Apostille in your country of residence. It is then registered at the Sub-Registrar’s office in Pune.

The management PoA and Sale PoA relationship:

Both PoAs can be held by the same Advocate — the management PoA for ongoing management, and the Sale PoA for the specific sale transaction. Having both with the same office means the complete picture of the property’s management history, title documents, and tenancy status is in one place — which significantly simplifies the sale transaction.

Finding a Buyer and the Agreement to Sale

Property valuation:

Before the buyer search begins, a realistic market valuation is essential. The government Ready Reckoner rate provides the floor — stamp duty is calculated on the higher of the Ready Reckoner rate and the agreed consideration. The actual market value depends on the specific locality, the property’s condition, floor, view, parking, and society infrastructure.

We advise on realistic market value based on current comparable transactions in the area — not on optimistic broker estimates designed to win the listing.

The Agreement to Sale:

Once a buyer is identified and the price agreed, an Agreement to Sale is executed. Under the Registration Act and the Maharashtra stamp duty law, the Agreement to Sale must be:

  • Stamped with full stamp duty — calculated on the higher of the Ready Reckoner rate or agreed consideration. This is a widely misunderstood point: stamp duty on Agreement to Sale is on the full value — not just on the advance paid
  • Registered at the Sub-Registrar’s office

What the Agreement to Sale creates:

From the moment of execution of a registered Agreement to Sale, the buyer has a legally recognised interest in the property. The seller cannot sell to another buyer or create any encumbrance from this point. The buyer’s interest is protected.

TDS implications at Agreement to Sale stage:

Where TDS is applicable on the sale — which it almost certainly is for an NRI seller — the TDS obligation arises at the time of payment of the advance. If the buyer pays an advance at Agreement to Sale stage, TDS should be deducted on that advance payment at the applicable rate. This is frequently overlooked — TDS on NRI property sale is not limited to the final payment at Sale Deed stage.

TDS on NRI Property Sale — The Most Misunderstood Obligation

TDS on the sale of property by an NRI is the most significant compliance issue in the transaction — and the one that most frequently surprises both sellers and buyers.

The legal basis:

Under Section 195 of the Income Tax Act, the buyer of property from an NRI is required to deduct TDS on the sale consideration before making payment to the seller. This obligation applies regardless of the sale price — there is no threshold below which TDS is not required for NRI sellers. This is different from TDS on property purchase from resident Indians under Section 194IA — which applies only where consideration exceeds ₹50 lakhs.

The applicable TDS rate — default:

The default TDS rate on sale consideration paid to an NRI depends on the nature of the capital gain:

  • Long-term capital gains — property held for more than 24 months: TDS at 20% plus applicable surcharge and cess on the sale consideration
  • Short-term capital gains — property held for 24 months or less: TDS at 30% plus applicable surcharge and cess on the sale consideration

The critical point: TDS under Section 195 is calculated on the gross sale consideration — not on the capital gain. If the sale consideration is ₹1 crore and the capital gain is ₹20 lakhs, TDS at 20% is ₹20 lakhs — on the full ₹1 crore, not on the ₹20 lakh gain.

This means: on a property sold for ₹1 crore, the buyer deducts ₹20-21 lakhs as TDS before paying the balance to the seller. The seller receives ₹79-80 lakhs at the time of sale. The ₹20-21 lakhs is with the government — creditable against the actual capital gains tax liability when the income tax return is filed.

Why this matters:

An NRI seller who expects to receive ₹1 crore and receives ₹79-80 lakhs instead — because TDS was not factored into the planning — has a cash flow problem. The TDS is not lost — it is refundable to the extent it exceeds the actual tax liability — but the refund requires a correctly filed income tax return and takes time.

Planning the TDS position before the sale is agreed — and applying for a Lower Deduction Certificate where the actual tax liability is lower than the default TDS rate would produce — is essential.

Lower Deduction Certificate — Section 197

A Lower Deduction Certificate under Section 197 of the Income Tax Act is the most important tax planning tool for an NRI selling property in Pune.

What it is:

A certificate issued by the Income Tax assessing officer specifying that TDS on the sale consideration should be deducted at a lower rate — or at nil — because the seller’s actual tax liability is lower than what the default TDS rate would produce.

When it is relevant:

  • Where the capital gain is significantly lower than the sale consideration — meaning TDS at 20% on the full consideration far exceeds the actual tax on the gain
  • Where the property is being sold at a loss — no capital gains tax, but TDS would still be deducted without a certificate
  • Where indexation benefit significantly reduces the taxable gain — the indexed cost of acquisition may bring the taxable gain well below what the default TDS rate implies

Example:

Property purchased in 2005 for ₹25 lakhs. Sold in 2024 for ₹1 crore.

  • Indexed cost of acquisition (applying cost inflation index): approximately ₹75-80 lakhs
  • Taxable long-term capital gain: approximately ₹20-25 lakhs
  • Tax on gain at 20%: approximately ₹4-5 lakhs
  • Default TDS on ₹1 crore sale consideration at 20%: ₹20 lakhs

Without a Section 197 certificate, the buyer deducts ₹20 lakhs as TDS. The seller’s actual tax liability is ₹4-5 lakhs. The excess — ₹15-16 lakhs — is a refund that must be claimed through the income tax return. With a Section 197 certificate specifying the lower rate, the buyer deducts only ₹4-5 lakhs — the seller receives the correct net amount at the time of sale.

The application process:

Form 13 is filed on the Income Tax portal with details of the property, the anticipated sale consideration, the cost of acquisition, the indexed cost, the taxable gain, and the applicable tax. The assessing officer reviews the application and issues a certificate specifying the lower rate.

Timeline:

The Lower Deduction Certificate application should be filed as early as possible — once the approximate sale consideration is known. Processing typically takes 4-8 weeks. This is one reason why the sale planning timeline of at least six months is recommended — the certificate must be available before the buyer makes payment.

CA involvement:

The Section 197 application requires accurate computation of the capital gains position — which requires CA involvement. We coordinate with your CA to ensure the application is filed with the correct figures and the supporting computation.

Capital Gains Tax on NRI Property Sale

Long-term vs short-term:

Property held for more than 24 months qualifies as a long-term capital asset. The gain is taxed as long-term capital gain — LTCG — at 20% with indexation benefit.

Property held for 24 months or less is a short-term capital asset. The gain is taxed as short-term capital gain — STCG — at the applicable income tax slab rate — up to 30% for higher income brackets.

Indexation benefit:

For long-term capital gains, the cost of acquisition is indexed using the Cost Inflation Index — CII — published by the Income Tax department annually. Indexation adjusts the purchase price for inflation, reducing the taxable gain.

Indexed cost = Original cost × (CII for year of sale ÷ CII for year of purchase)

The indexation benefit can significantly reduce the taxable gain — particularly for properties purchased many years ago at much lower prices.

Exemptions available:

Two principal exemptions are available for NRI sellers on long-term capital gains from property sale:

Section 54 — Reinvestment in residential property:
Where the capital gain is reinvested in the purchase of another residential property in India — within one year before or two years after the sale, or construction within three years — the capital gain is exempt to the extent of the reinvestment. For NRIs selling a Pune property and reinvesting in another Indian property, this exemption is available.

Section 54EC — Investment in specified bonds:
Where the capital gain — up to ₹50 lakhs — is invested in specified bonds issued by NHAI or REC within six months of the sale, the invested amount is exempt from capital gains tax. The bonds have a mandatory lock-in period of five years.

DTAA relief:

India’s DTAA with your country of residence may affect the capital gains tax treatment — either by specifying which country has the primary right to tax the gain, or by providing for a credit mechanism. CA advice on the DTAA position for your country of residence is essential before the sale.

FEMA Compliance for Sale Proceeds Repatriation

After the sale is completed and the capital gains tax is paid, repatriating the sale proceeds to your foreign account requires FEMA compliance.

The correct process:

Sale proceeds are received in your NRO account — not directly in a foreign account. From the NRO account, repatriation is permitted subject to:

  • Annual limit of USD 1 million per financial year from NRO account (across all sources)
  • Tax compliance — capital gains tax paid, income tax return filed
  • Form 15CA filed on Income Tax portal
  • Form 15CB from CA certifying tax compliance
  • Bank documentation — sale deed, tax payment proof, NRO account statement

For properties purchased in foreign exchange:

Where the NRI originally purchased the property using foreign exchange — funds remitted from abroad — the repatriation of sale proceeds is subject to specific conditions under FEMA:

  • Repatriation limited to the amount originally remitted in foreign exchange for purchase
  • Capital gains on the original foreign exchange investment are repatriable
  • Any amount above the original foreign exchange investment must follow standard NRO repatriation process

For properties purchased in Indian rupees:

Properties purchased using funds from the NRO account or through Indian rupee sources follow the standard NRO repatriation process — up to USD 1 million per year with Form 15CA/15CB.

CA coordination:

FEMA compliance for property sale proceeds repatriation requires CA involvement for Form 15CB and Form 15CA. The sale deed, the capital gains computation, the tax payment proof, and the NRO account statement are the documents the CA needs. We provide the property documentation — the CA handles the tax computation and Form 15CB.

The Sale Deed Registration Process

The Sale Deed is the document that transfers ownership of the property to the buyer. It must be executed and registered at the Sub-Registrar’s office.

Stamp duty on Sale Deed:

For a property in PMC/PCMC area:

  • Male buyer: 5% base + 1% Local Body Tax + 1% Metro Cess = 7% total
  • Female buyer: 4% base + 1% LBT + 1% Metro Cess = 6% total

Stamp duty is calculated on the higher of the Ready Reckoner rate and the agreed consideration.

Registration charges:

  • 1% of value — maximum cap ₹30,000

Document Handling Charges:

  • ₹40 per page of the Sale Deed

TDS at Sale Deed stage:

The balance sale consideration — after any advance paid at Agreement to Sale stage — is paid at or before Sale Deed registration. TDS at the applicable rate — or Lower Deduction Certificate rate — is deducted from this payment by the buyer.

Execution under Sale PoA:

Where a Sale PoA has been executed, the Advocate appears before the Sub-Registrar as your authorised representative. The buyer or their representative also appears. The registered Sale Deed is issued — typically within a few days.

After registration:

The buyer’s name is entered in the Sub-Registrar’s registration records. The buyer then completes mutation — updating the Property Card and society records in their name. The society NOC and share certificate transfer to the buyer are completed after registration.

After the Sale — What Remains to Be Done

The sale deed registration does not end all obligations.

Income tax return filing:

The capital gains from the sale must be declared in your Indian income tax return for the financial year in which the sale occurred. TDS deducted by the buyer — Form 16B issued by the buyer — is claimed as credit. The return must be filed by the due date — typically July 31 of the assessment year.

TDS refund claim:

Where TDS was deducted at the default rate and the actual tax liability is lower — because of indexation, exemptions, or DTAA — the excess TDS is claimed as a refund in the income tax return. Refunds from the Income Tax department can take several months to process.

FEMA filing:

Repatriation of sale proceeds requires Form 15CA/15CB and bank processing. This is done after the tax return is filed and the tax position is established.

Society share certificate transfer:

After the Sale Deed is registered, the society transfers the share certificate to the buyer. If the share certificate was held in this office’s custody, it is handed over to the buyer’s representative as part of the post-sale document handover.

Management arrangement termination:

The management PoA is revoked after the sale — the property no longer requires management. All management records, receipts, and documentation are compiled and provided to you in a final management summary. Any balance in the management account is settled.

Common Mistakes

1. Not factoring TDS into the sale price negotiation
An NRI seller who negotiates a sale price of ₹1 crore and then discovers that ₹20 lakhs will be deducted as TDS has negotiated without full information. The net amount received at the time of sale — after TDS — should be the figure that informs the price negotiation. The TDS refund takes time and requires correct tax filing — the immediate cash flow impact must be planned for.

2. Not applying for a Lower Deduction Certificate in time
The Section 197 certificate takes 4-8 weeks to process. An NRI seller who discovers TDS obligations at the time of sale — after finding a buyer and agreeing a price — cannot get a certificate in time. The certificate must be applied for before the buyer search concludes. Planning six months ahead makes this possible.

3. Selling with a sitting tenant
A property with a sitting tenant is harder to sell, sells at a lower price, and creates timing complications. Initiating tenant vacation before the buyer search — not after — is the correct sequence.

4. Using the management PoA to execute the sale
The management PoA explicitly excludes the authority to sell. Using it to execute a sale creates a void transaction — one that was executed without authority. A separate Sale PoA, specifically authorising the sale of the specific property to a specific buyer at the agreed price, must be executed for each sale transaction.

5. Not obtaining a fresh Encumbrance Certificate before sale
An Encumbrance Certificate obtained at the start of the management arrangement — perhaps two or three years ago — does not confirm the current encumbrance position. A fresh EC must be obtained close to the date of sale. Any encumbrance that arose during the management period — unlikely but possible — would appear on the fresh EC and must be addressed before sale.

6. Ignoring capital gains exemption opportunities
Section 54 and Section 54EC exemptions can significantly reduce or eliminate capital gains tax on the sale. These exemptions require specific action within defined timelines after the sale — reinvestment within two years, bond investment within six months. An NRI seller who does not plan for these exemptions before the sale forfeits the opportunity to use them.

7. Attempting to receive sale proceeds directly in a foreign account
Sale proceeds from an Indian property sale must be received in an NRO account first. Direct receipt in a foreign account is a FEMA violation. The NRO account is the correct receiving account — repatriation abroad follows after tax compliance.

8. Not filing Indian income tax return after the sale
The capital gains are taxable in India. The income tax return must be filed. TDS deducted by the buyer is credited against the tax liability — but only through a correctly filed return. An NRI seller who does not file the return for the year of sale loses the TDS credit and may face a demand notice from the Income Tax department.

Frequently Asked Questions

1. I want to sell my Pune property. Where do I start?

The starting point depends on the property’s current status. If it is currently rented, the tenant vacation process begins first — initiated with the required notice period under the agreement. Simultaneously, the title document review begins — confirming all documents are in order, obtaining a fresh Encumbrance Certificate, verifying society records and dues status. A CA is engaged to assess the capital gains position and advise on the Section 197 application. The property valuation is assessed based on current market comparables. These steps happen in parallel — the sale-ready timeline is typically six months from the decision to sell for a rented property, and three to four months for a vacant property.

2. My property was purchased in 1998 for ₹8 lakhs and I am selling it for ₹90 lakhs. What is the approximate capital gains tax?

The indexed cost of acquisition applies the Cost Inflation Index from 1998-99 to the current year — which significantly inflates the original cost for indexation purposes. The exact computation requires the specific CII figures for the year of purchase and the year of sale — which your CA will apply. As a rough indication, the indexed cost of a property purchased in 1998-99 is approximately 3.5-4 times the original cost when sold in recent years — meaning an original cost of ₹8 lakhs may have an indexed cost of approximately ₹28-32 lakhs. On a sale of ₹90 lakhs, the taxable gain after indexation would be approximately ₹58-62 lakhs, taxed at 20% — giving a capital gains tax of approximately ₹11-12 lakhs. This is a rough illustration only — your CA must compute the exact figure using the correct CII values and any other applicable deductions.

3. The buyer is asking me to show the sale consideration as lower than the actual price to reduce their stamp duty. What is the risk?

This is a request to under-declare the sale consideration — a practice that is illegal under both the Income Tax Act and the Registration Act. The consequences for the seller are: income tax evasion on the understated portion — which is treated as unexplained income; potential prosecution under the Income Tax Act; and FEMA implications for the understated amount that is received as cash outside the banking system. The consequences for the buyer include stamp duty evasion liability. This is not a risk management question — it is an illegality that this office will not facilitate under any circumstances.

4. Can I sell my Pune property to another NRI or a foreign national?

Yes — an NRI can purchase residential and commercial property in India without restriction. A foreign national who is not a person of Indian origin faces restrictions on purchasing certain categories of property — agricultural land, plantation, farmhouse — but residential and commercial property can generally be purchased subject to RBI guidelines. The sale transaction is the same as with a resident Indian buyer — with the buyer’s NRI status affecting their own FEMA compliance requirements for remitting purchase funds from abroad.

5. What happens to the management arrangement after the property is sold?

The management arrangement terminates on the completion of the sale — registration of the Sale Deed. The management PoA is formally revoked. All documents held in custody — title documents, society records, management records — are compiled in a final handover package. The security deposit from the last tenant — if any — has been settled at the time of tenant vacation. The management account is fully reconciled and the balance remitted to your NRO account. A final management summary covering the entire management period is prepared and provided to you.

6. I inherited this property and have never lived in it. Does the capital gains calculation change?

For inherited property, the cost of acquisition for the heir is the cost at which the previous owner acquired the property — not zero, and not the market value at the time of inheritance. The period of holding includes the period for which the previous owner held the property — so a property purchased by your father in 1990 and inherited by you in 2010 is treated as held since 1990 for capital gains purposes. The indexation benefit applies from the year of the original purchase. This significantly affects the capital gains computation and is a point that must be specifically addressed with your CA.

7. Can the sale proceed without me being physically present in Pune?

Yes — entirely. Under a properly executed Sale PoA, this office represents you at every stage — Agreement to Sale execution, Sale Deed registration, Sub-Registrar appearance. You do not need to be in India at any point in the transaction. The Sale PoA must be executed before the sale process begins — through the consulate or apostille process if you are abroad. Once the PoA is registered, the entire transaction proceeds without your physical presence.

8. What is the timeline for receiving the sale proceeds in my foreign account after the Sale Deed is registered?

After registration: the income tax return for the year of sale must be filed — due July 31 of the assessment year. Form 15CA and Form 15CB must be prepared. The bank processes the remittance from the NRO account. Total timeline from Sale Deed registration to money in your foreign account: typically three to six months, depending on whether the tax return has already been filed and whether TDS was deducted at the correct rate or requires a refund. Planning this timeline is important — NRI sellers who expect the money in their foreign account within weeks of the sale are setting unrealistic expectations.

9. The buyer wants to pay part of the consideration in cash. What should I do?

Decline. Cash payments outside the banking system in a property transaction are a FEMA violation, an income tax evasion risk, and a stamp duty evasion risk. They are also practically problematic — cash received in India cannot be repatriated abroad without going through the banking system, creating a documentation gap in the FEMA chain. Every rupee of the sale consideration must be received by bank transfer — NEFT, RTGS, or account payee cheque — to your NRO account or to the management account for onward remittance. This position is non-negotiable and is communicated to the buyer’s side at the Agreement to Sale stage.

10. After selling my Pune property, do I still need to file Indian income tax returns?

For the year of sale — yes, definitely. The capital gains are taxable in India and must be declared. For subsequent years: if you have no other Indian-sourced income — no rental income from other properties, no interest income in Indian accounts above the exemption threshold — and your total Indian income falls below the basic exemption limit, filing may not be required. Your CA should assess the post-sale filing position based on your complete India income picture.

Areas We Cover in Pune

This service covers the entire Pune PMC and PCMC area. Properties in gram panchayat areas or outside Pune district are not covered.

Localities we regularly serve: Kothrud, Aundh, Baner, Bavdhan, Pashan, Wakad, Hinjewadi, Viman Nagar, Kalyani Nagar, Koregaon Park, Hadapsar, Kondhwa, Undri, Karve Nagar, Shivajinagar, Deccan, Erandwane, Camp, Pimpri-Chinchwad, Talegaon Dabhade, Lonavala and surrounding areas within PMC/PCMC limits.

Contact

Advocate Ketan Palshikar
Property Lawyer and Property Manager, Pune

14, Eiffel Square, 1530, Sadashiv Peth, Off Tilak Road, Pune – 411030

Phone / WhatsApp: +91 9325624069
Email: palshikar.ketan@gmail.com
Website: palshikarlegal.in

If you are considering selling your Pune property and want to understand the complete process — including the tax position, the timeline, and how the transition from management to sale works — contact us for an initial consultation.

Your property. Our legal responsibility.

Related Pages