urgent

ur query is not cleary draft. Plz correct it dear...!

I understand that a NON RESIDENT is owner of property situated in India. He wants to transfer such property to a person RESIDENT in India.

Now the payment will be done by Resident Indian to NONRESIDENT.

1.The payment  shall be made by remittance to abroad through normal banking channels or by debit to an account of the RESIDENT maintained with an authorised person in India in accordance with the regulations made by the Reserve Bank under the Act.

2. Every person selling or drawing foreign exchange to or from an authorised person for a capital account transaction shall furnish to the Reserve Bank , a declaration in the form and within the time specified in the regulations relevant to the transaction