International taxation

Hi..........

Can husband who is NRI give the interest free loan in rupees to his wife who is not the NRI and she want to invest to such loan amount in the House Property in India?

She will let out the house property and earn the rent income on the same.From which she will repay the laon taken from her husban.........

The above transaction is proper in terms of Income Tax point of view as all provisions of FEMA has been properly followed.......