Q: Can sale proceeds of such property if and when sold be remitted out of India?
A: In respect of residential properties purchased on or after 26th May 1993, Reserve Bank considers applications for repatriation of sale proceeds up to the consideration amount remitted in foreign...
Q: Can such property be sold without the permission of RBI?
A: Yes. RBI has granted general permission for sale of such property. However, where the property is purchased by another foreign citizen of Indian origin, funds towards the purchase consideration...
Q: Whom can NRI transfer by way of sale his agricultural land/plantation property/farm house in India?
A: Under the general permission available NRI/PIO may transfer by way of sale his agricultural land/plantation property/farm house in India to a person resident in India who is a citizen of India.
Q: Whom can an NRI sale/transfer property in India?
A: An NRI can sell/ transfer the property in India to a citizen of India or NRI or foreign national of Indian origin.
Q: How does NRI dematerialize securities purchased while she/he was resident?
A: As per FEMA rules, NRI must regularize his/her holdings to reflect the change of status - in this case, bring them to 'Non-Resident' status. For this, NRI must submit (if not already submitted to...
Q: What are the procedures to be followed in respect of investments in securities in case person resident in India becomes NRI?
A: On becoming an NRI, a new depository account with appropriate NRI status is to be opened and all the balances held in an account with 'Resident' status should be transferred to the account with NRI...
Q: What are the procedures to be followed in respect of investments in securities in case an NRI becomes person resident in India?
A: On becoming a resident, a new depository account with appropriate status - 'Resident' in this case - is to be opened and all the balances held in an account with 'Non-Resident' status should be...
Q: Can an NRI purchase securities by subscribing to an issue? What approvals are required?
A: The issuing company is required to issue shares to NRIs on the basis of specific or general permission from GoI/RBI. Therefore, individual NRI need not obtain any permission.
Q: What are the permissions required for off-market transfer of securities?
A: From NRI to NRI - No permission From person resident - No permission outside India to person resident in India (Gift) From person resident in - Application to RBI India to person resident by...
Q: What is the fee for filing application for TAN?
A: The applicants for TAN are to pay Rs.50/- + service tax (as applicable) as processing fee at the TIN FC at the time of submitting Form 49B.