Hello Sir, I have taken a flat 2 years back from NRE account for 15 lakhs in mumbai. Now I want to sell it off @ 40 lakhs..Buyer wants to pay me through bank loan at one go..I have to accept this money to my local indian account.. Will bank or govt will charge tax on this money..If yes, how much.. Iam intending to invest this money in 1 or 2 properties within a year..I dont want to end up paying tax on this money. Please guide.
