Fema rules
This query is : Resolved
14 July 2012
AN NRI WANTS TO PURCHASE A FLAT IN INDIA THROUGH HIS FATHER WHICH MEANS NRI SON SENDS FUNDS TO HIS FATHER AND HIS FATHER PURCHASES PROPERTY ON HIS SON'S NAME IN INDIA..IS THERE ANY VIOLATION OF FEMA RULES IN THIS REGARD?
CA. Anuj Gupta
(Expert)
15 July 2012
Here the NRI can directly send funds in his NRO/NRE account and transfer the funds to builder or he can also send the money directly to the builder from his account outside India.
Also NRI can open NRE account jointly with his father .
Anuj
femaquery@gmail.com
Also NRI can open NRE account jointly with his father .
Anuj
femaquery@gmail.com
17 July 2012
Agreed with Anuj Sir,
I am an NRI and have also bought property in INDIA, without any hassle.
Just route your money through NRE/ NRO account to the developer. There is no violation of FEMA.
Shashank
I am an NRI and have also bought property in INDIA, without any hassle.
Just route your money through NRE/ NRO account to the developer. There is no violation of FEMA.
Shashank
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