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House Down payment Transfer money from India   Shah    02/10/2019 11:16 PM  

Hi, planning to sell my property in India.
How can I transfer money (around 60k) to US to use for down payment. Do I have to pay taxes? Will mortgage companies have problem with that. Anyone did this before, please share your experience.

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Re: House Down payment Transfer money from India   good luck   02/11/2019 08:36 PM  

no but you can just bring in and use it for down payment, see which transfer works out well for you, you may not do all at once, may be in chunks should work are my thoughts on this. good luck

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Re: Re: House Down payment Transfer money from India   Shah   02/12/2019 07:50 PM  

Any more input?
Anyone else did this?

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Re: Re: Re: House Down payment Transfer money from India   PR   02/13/2019 10:09 AM  

You need to reach out to a Chartered accountant and get 15Ca and 15Cb forms. It takes minimum a week also.

With these forms you can request bank to transfer money to US.

I do not think money is taxable in US as far own money is going from one property to another. I did same in 2018 but yet to file the tax which will be done in few weeks !

Good luck


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