Purchase of residential house by a foreign national (Indian origin, not holding Indian passport)

This query is : Open

Gaurav Haldia (Querist)
Follow

01 December 2025 A person who was born in India but now staying outside India wants to buy residential property in India. To be specific, currently the person does not have OCI status as well (in process). He has a NRE bank account in India. The queries are as follows:
(a) Fund transfer - Can the person transfer funds from a foreign bank account to NRE bank account for payment for the property? Are there any issues or considerations?
(b) Tax implications upon sale of property?
(c) The person already has a house property in India which he will transfer and invest that amount also in the new house property. Will he be eligible for capital gain tax exemption under section 54 of the Act?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now