Repatriation of funds from india through selling inheritance of agricultural property

#1
Hello Members,
Last month when i posted selling of agricultural land -i was not precise,.please answer my questions below:

1. Am selling my agricultural land for 75 lakhs and gifting it to my son.
2.My son wants to repatriate the funds from india.
3.I am having the land in my name for more than 16 years.

My questions:
1.Is there any tax applicable for me or my son.
2.My son is recieving money as a gift from me-should he pay tax for it?
3.If so whats the tax amount?
4.Should i inform RBI or FEMA about the repatriation.
5.MY main worry is how much tax is involved in this contest.
Please guide me members.
 
#2
Re: Repatriation of funds from india through selling inheritance of agricultural prop

Did you get answers to your questions? I am in the same boat.

Any help is appreciated.

[email protected]
 
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