property purchase by NRI
This query is : Resolved
22 December 2008
Dear all,
My friend has purchased immovable property in financial year 06-07 in india. He is an NRI. Recently we have recd a notice from OFFICE OF THE ADDL DIRECTOR OF INCOME-TAX(INVESTIGATION) to furnish details of this purchase either personally or through authorised rep within a week. As he was abroad he could not do this. What should we do now. And what the implications for an NRI buying property in INDIA.
My friend has purchased immovable property in financial year 06-07 in india. He is an NRI. Recently we have recd a notice from OFFICE OF THE ADDL DIRECTOR OF INCOME-TAX(INVESTIGATION) to furnish details of this purchase either personally or through authorised rep within a week. As he was abroad he could not do this. What should we do now. And what the implications for an NRI buying property in INDIA.
22 December 2008
Firstly there is no special implication of taxation in case a NRI buys property in India.
Secondly, ask your friend to authorize by fax or mail any person who can be legally authorised u/s 288 of Income Tax act to represent him in the investigations.
Ask him to furnish details like-Name, address and PAN of the seller.
Furnish the sale deed.
Furnish the payments details made to the seller.
Secondly, ask your friend to authorize by fax or mail any person who can be legally authorised u/s 288 of Income Tax act to represent him in the investigations.
Ask him to furnish details like-Name, address and PAN of the seller.
Furnish the sale deed.
Furnish the payments details made to the seller.
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
- CAPITAL GAIN BASE ON NOTIFICATION
- Taxable or Tax exempt
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- TDS Deducted AY-2013-14 Not Reflected in 26as
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- REGARDING ANNUAL RETURNS FILLINGS OF A COMPANY INCORPORATED ON 28.03.2025
- Condonation . E-Verification of last year return .
- TDS Return Q1 FY 2026-27
- Capital gain on sale and purchase of plot
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
