he below questions are in the context of of a foreign citizen but having OCI buying property in India.
- Is a PAN card mandatory for an OCI living abroad to buy property in India ?
- Is an OCI eligible to buy property in the name of his major children with OCI card ( above age of 18 ) and rent out property in India ?
- Will an OCI get the LTCG benefit of section 54 of the income tax if he decides to sell his property and invest in another residential property ?
- If the OCI had bought the property when he was a resident of India, but currently is a tax resident of his country of his citizenship and is about to register the property , then are there any RBI regulations to follow for registration or is the process similar to that of a resident Indian ?
CAclubindia
