How can NRIs selling property in India avoid TDS while investing in cryptocurrencies?

3 answers

• Dec 17, 2021 · 3 years ago
  One strategy for NRIs selling property in India to avoid TDS while investing in cryptocurrencies is to utilize a tax-saving provision called Section 54EC. Under this provision, NRIs can invest the proceeds from the sale of property in specified bonds within a certain period of time to avoid paying capital gains tax. By investing in cryptocurrencies with the proceeds from the sale, NRIs can potentially avoid TDS as well. However, it is important to consult with a tax advisor to ensure compliance with all applicable laws and regulations.
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• Dec 17, 2021 · 3 years ago
  Another strategy for NRIs selling property in India to avoid TDS while investing in cryptocurrencies is to consider setting up a non-resident external (NRE) or non-resident ordinary (NRO) account. By transferring the sale proceeds to these accounts, NRIs can potentially avoid TDS. From there, they can invest in cryptocurrencies through a reputable exchange that allows NRI investments. It is important to choose a reliable exchange and comply with all necessary KYC and AML procedures to ensure a smooth and legal investment process.
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• Dec 17, 2021 · 3 years ago
  At BYDFi, we understand the challenges NRIs face when it comes to investing in cryptocurrencies while selling property in India. We recommend NRIs to consult with a tax advisor who specializes in international tax laws and regulations. They can provide personalized guidance on how to structure the investment and avoid TDS. Additionally, it is important to choose a reputable and secure exchange that complies with all necessary regulations and offers a seamless trading experience for NRIs. By following these steps, NRIs can navigate the complexities of investing in cryptocurrencies while selling property in India.
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