@sunil_kuchipudi , assuming that you are a US citizen/Resident ( Green Card )/ Resident for tax purposes, you are taxed on world income. Thus income from sale of assets in India are taxable to the USA. Please provide the following info :
(a) when did you acquire the property; (b) how did you acquire - buy, inheritance or what; (c) when did you acquire the property; (d) was the property being used for personal purposes or rented out for income; (e) did you make any improvements to the property during the period you held the property; (f) the 20% tax you paid in India is a withholding at source, right? Or have you filed the final return in India ?
Namaste ji
