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Fema

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(Querist)
20 August 2012 if any person who is resident outside india transfer the property to person resident outside india for less then 5 year , then he require to get RBI approvel for such transaction or no and what kind of transaction is it?
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Amol S Joglekar

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Amol S Joglekar (Expert)
20 August 2012 person resident as per FEMA and as per Income Tax are different. FEMA resident outside India may transfer his/her property OUTSIDE INDIA without taking any approval of RBI INDIA.
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