Expert says OCIs and NRIs can now save more tax on their property in India

Amit Maheshwari, Tax Partner at AKM Global, has analysed India's Union Budget for 2022-23 for SBS Hindi. Mr Maheshwari said the Indian government has capped the surcharge on long-term capital gains tax on property and unlisted shares at 15 per cent. Mr Maheshwari said earlier the surcharge could go up to 37 per cent depending on a person's income. He said this will benefit everyone, including non-resident Indians (NRIs) and overseas citizens of India (OCI) who invest heavily or have properties in India. Listen to the podcast to know more about the benefits announced for NRIs and OCIs announced in Budget.