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Querist : Anonymous

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Querist : Anonymous (Querist)
01 September 2018 Whether NRI can invest in agri land purchase cost Rs.4000000. Whether he can use liberalised remittance scheme for such purchase if so upto how much he can utilise? Whether he can remit money through NRI OR NRO ACCOUNT?
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
01 September 2018 NRIs are prohibited from buying agricultural land in India irrespective of the amount
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K Srinivas, CMA CS

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K Srinivas, CMA CS (Expert)
01 September 2018 If NRI needs to purchase,then specific approval from RBI is required
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