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Fema

This query is : Resolved 
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(Querist)
29 September 2011 Hi,
can a person resident in India transfer any immovable property situated outside in India if such property was acquired by him when he was resident outside India?
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CA Sumat Singhal

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CA Sumat Singhal (Expert)
29 September 2011 Sir,
In my opinion
As per permissible capital account transaction rules 2000 schedule , this is a permissible capital account transaction, no requiring any approval.
no difference whether he was resident outside or resident in india.
Kindly let me know whether this solution has solved your query.
Regards,
CS Sumat Singhal
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Vishal D Shah

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Vishal D Shah (Expert)
29 September 2011 Yes. Permitted transaction.
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