CA Mayur Sojrani (CA) (318 Points)
28 December 2010
HEY CAN A COMPANY WHICH IS REGISTERED ABROAD HAVING NO BUSINESS IN INDIA PURCHASE FLAT IN INDIA FOR DIRECTOR...?
WHAT R THE RBI & FEMA NORMS.
PLZ ALSO PROVIDE THE LINK TO THIS EXPLANATION
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7014 Points)
Replied 24 March 2011
No the foreign Company if it doesn't have any business presence in India, then it shall not be allowed to purchase the flat in India.
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