Assets/Money Transfer from India to overseas on immigration

Tax planning 916 views 1 replies

 

SUB :  Assets/Money Transfer from India to overseas on immigration for permanent settlement on immigrant visa  .

 

Hi ,

 

What are the rules and procedures to be followed for transferring money/assets abroad when a person plan to migrate  from India to a Western country for permanent settlement on immigrant visa  . He has got a house in a town which he wants to sell off and wish to carry the proceeds  along with his other deposits in banks , in foreign exchange through Indian banking channels , following all Indian rules and procedures legally .

 

Kind advise step-by-step , considering Indian Tax rules , Banking rules and other Govt. formalities .

 

Thanks in anticipation  ,   

 

PP 

 

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Replies (1)

The person can take out all the money (subject to some limitations under FEMA) after paying all taxes.

 

Anuj

0-9810106211

anuj106 @ gmail.com


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