CAN NRI PURCHASE RESIDENTIAL PROPERTY IN INDIA
This query is : Resolved
15 April 2009
A NRI WANTS TO PURCHASE PROPERTY IN INDIA.
IS ANY RESTRICTION ON THE SAME? THE PAYMENT MODE WILL BE RUPEES OR IN FORIEGN CURRENCY.
IF NRI WANTS TO PURCHASE A HOUSE FROM HIS BROTHER, THEN WHAT WILL BE THE POSITION.
WHICH SECTION OF IT ACT, 1961 OR OTHER ACTS DEAL THE SAID CASE.
IS ANY RESTRICTION ON THE SAME? THE PAYMENT MODE WILL BE RUPEES OR IN FORIEGN CURRENCY.
IF NRI WANTS TO PURCHASE A HOUSE FROM HIS BROTHER, THEN WHAT WILL BE THE POSITION.
WHICH SECTION OF IT ACT, 1961 OR OTHER ACTS DEAL THE SAID CASE.
15 April 2009
As per FEMA section 6 NRI can purchase the residential property for his own occupation in india. The only conditions that all remmitence should be route through authorised dealer.
No implications w.r.t Income tax act.
No implications w.r.t Income tax act.
15 April 2009
agree with the expert
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- Sales return eway bill
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Treatment of Pension ?annuity returns on PMVY
- Taxation on LTCG for property sold after 24JUL2024
- GST ON DAMAGED GOODS
- Tax liability on income of freelancer
- AY 26-27 ITR-4 FILING U/S 44-ADA
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
