Tax planning regarding gift
This query is : Resolved
03 December 2012
my client is NRi. under FEMA, investment in real estate sector not permissible. my client want to invest in real estate sector. is it possible to give gift to daughter who is also NRi. kindly solve query in the light of incometax Act and under FEMA.
03 December 2012
NRI investment in real estate is not BARRED. Investment in "agricultural land" needs special permission.
04 December 2012
thanks sir.but is it capital account transaction or current account transaction? also give me details of section number which restrict investment by NRI.
04 December 2012
In the case of individual it is current account transaction. In the case of company, it is capital account transaction.
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