US-Based Client: Property Sale and Repatriation Before Foreign Citizenship
Situation
A client planning to take up foreign citizenship needed to sell India property worth about ₹90 lakh and repatriate the proceeds before the citizenship change altered applicable rules and reporting obligations.
Approach
We structured the sale timeline, computed the capital gains tax liability of roughly ₹8 lakh, and coordinated the Form 145/146 (formerly Form 15CA/15CB) certification for repatriating the balance proceeds abroad, all completed while the client still held Indian citizenship.
Outcome
The sale, tax payment, and repatriation of the balance ~₹82 lakh were completed cleanly before the citizenship change took effect, avoiding the added approvals and documentation a post-change transaction would have required.
Identities are anonymized to protect client confidentiality. The situation, approach, and figures reflect an actual engagement.
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