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property purchase by NRI

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(Querist)
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.
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Mohit R Monga

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Mohit R Monga (Expert)
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.
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