New Delhi, Aug. 11 -- An NRI living in Germany jointly owns a residential property in India with her resident sister. They had each contributed 50% of the purchase price seven years ago and now plan to sell the property. While the NRI wants to remit her share of the sale proceeds abroad, her sister plans to reinvest her share in another residential property. Can the sister claim the capital-gains tax exemption even if the NRI does not reinvest her share?

- Name withheld on request

Since the sale of the property is to be made after 1 April 2026, the tax implications of the sale would be governed by the provisions of the Income-tax Act 2025, which came into effect from 1 April 2026. Further, for determining the taxability and eligibility ...