Fema and rbi
This query is : Resolved
divya barola
(Querist)
02 September 2011
An NRI has remitted FOREX for advance booking of a flat in an under construction building in India.
Q1) what provisions need to be complied with for the said remittance by both the parties?
Q2} Is this case covered under deemed export?
What are the benefits extended by the government to the builder?
Q3}If the builder imports any raw materials than what provisions need to be complied with?
plzzz reply soon..... its urgent....
Q1) what provisions need to be complied with for the said remittance by both the parties?
Q2} Is this case covered under deemed export?
What are the benefits extended by the government to the builder?
Q3}If the builder imports any raw materials than what provisions need to be complied with?
plzzz reply soon..... its urgent....
29 September 2011
As far as FEMA is concerned this remittance will fall under general permission of RBI. An NRI can invest in India in immovable property except the agricultural land/farm house/plantation property without any permission from RBI till the time the payment is through normal banking channel /or thorugh debit to non resident account in India.
Regards,
CA. Sudha G. Bhushan
Sudhag999@gmail.com
Regards,
CA. Sudha G. Bhushan
Sudhag999@gmail.com
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
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Transfer of Physical Stock Between Two Proprietorship Concerns
- EPF ECR NEW RULES Sep 17th 2026
- Issuing of delivery challan by seller of goods
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
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
