New Delhi, Sept. 21 -- I inherited a Singapore property from my NRI father recently. I returned to work in India a decade ago and have been a resident in India since then. My father had acquired this property about 35 years ago. I don't want to retain the property but want to sell it. What will be the tax implications in India?

Since you have been residing in India for the last decade, it is assumed that you would qualify as a resident of India under the Income-tax Act, 2025 (ITA), and would accordingly be liable to tax in India on your global income. Under the provisions of the ITA, any gain arising from the transfer of a capital asset is taxable under the head 'Capital Gains'. Since immovable property is a capital asset, its sale by yo...