Urgent - forigen investment in india (fema & income tax)

This query is : Open

Querist : Anonymous

Querist : Anonymous (Querist)

09 May 2013 DEAR EXPERTS,

PLEASE PROVIDE YOUR KIND SUGGESTIONS, WITH legal formalities in procedural aspects.

Case Study-

Option 1

Mr. A resides in UK (resident of UK) want to do investment in Real estate in India of Rs. 50 lac. and after two years he will sell the property for Rs. 60 lac in india and brought back whole amount after tax to UK.

Now what are the income tax and FEMA limitations or formalities to be complied for( also what kind of accounts to be opened in india like NRO ACCOUNT so on)

Option 2

Mr. A resides in UK ( resident of UK) want to make gift of Rs. 50 lac to his mother (residing in India-Resident of india) and his mother further invest the gifted money in Real estate in India. After one year Mother of Mr. A sold that property for Rs. 60 lac and after paying proper tax mother of Mr. A will again gifted that balance money to Mr. A in UK.

Now what are the income tax and FEMA limitations or formalities to be complied for( also what kind of accounts to be opened in india like NRO ACCOUNT so on)

Also please advise which option is more beneficial.

Thanks in Advance

Querist : Anonymous

Querist : Anonymous (Querist)

13 May 2013 Is there anyone who want to reply on above query ?