I am a NRI, have purchased a residential property in Mumbai, India for investment purposes. I am not availing any loan facilities in India and need to make payment to the builder based on the remittances I have made from my overseas earning. Wanted to know, from which account(NRE/NRO) should I make the payment in the following two situations: 1) In case I dont go for property registration. 2) In case I go for property registration.
Will like to know if there are any restrictions in the nature of payment I make from either of the accounts and what are the tax implications.
CAclubindia
