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I am an NRI, wishing to dispose of a residential property approx valued at 4cr Held since 1980 Please advise on 1/ my status has been a Resident indian - as a pensioner so far- but wish to take the proceeds abroad. Should I open an NRO acct and get sale proceeds thereand then transfer funds abroad- as can do USD 1 mill/year under LRS. As an NRI Any problems / complications in that? 2/ as there is a Tax treaty with India/ US , will IRS accept my tax payment in India or govern me under US laws? And tax me again? 3/To correctly assess Cap Gains and pay tax- I believe that prior to 2001 The cost inflation index is to be done as per FMV of 2001 Who decides this FMV in 2001 - ? Brokers or Govt?

Very educative site! With an pension income of 18 L, rental of 2 L, and dividends of about 5.5 L and FDs about 2 L Totalling 27.5L Which tax regime is better for me- ? I invest 1.5 L under 80cc and deduct 1.25 L as a medical benefit 2: Will it make any difference if I file as an NRI ? Thanks!