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Latest Questions

Q: Can an OCI be given Power Of Attorney?

Q: How can an NRI make payment for the purchase of residential property in India?

A: Payment can be made by NRI / PIO out of : Funds remitted to India through normal banking channels or Funds held in NRE / FCNR (B) / NRO account maintained in India No payment can be made...

Q: Can an NRI own property in India, If I return to India will it be taxed in India and US?

A: Yes, as a PIO, you are eligible to buy property other than agricultural property. On your return to India, you will be an RNOR for 2 years during which your forex income will not be taxable in...

Q: How long will it take to process an application?

A: can you please mention the application name which you want to process.

Q: What are the documents required for an NRI to buy a property?

A: The following are the documents required for an NRI to buy property in India * Pan card (permanent account number) * Oci/PIO card * Passport * Passport size photographs * Address proof

Q: i am an army officer in india and planning to buy a piece of land from an NRI(US).the land is in odisha, india. the property is in the name of mrs x but in her divorce agreement she has agreed to give the property to her x husband and accepted a property in USA in lieu. the lady is sufferring from cancer an has travel restrictions. she is ready to hand over the power of attorney to her x husband to sell off the property. how should i proceed? what kind of POA is required in this case?

A: To know the complete information of NRI power of attorney format follow the two reference links

Q: Adviser for Home loan in India for US citizen. I can apply directly. But as my personal tax return in USA is not great , But I have enough capacity to buy. So I want to go through an adviser , who can help me to prepare a paperwork .

A: Financial institutions offering housing loans and banks registered with the National Housing Bank to offer loans to PIO’s and NRI’s to buy residential properties in India have general permission...

Q: What is the position regarding the refund of the purchase consideration on account of non-allotment of flats/ plots/ cancellation of bookings/ deals in respect of immovable property purchased by NRI in India

A: With a view to credit to NRE/FCNR account of refund of purchase considerations by the seller on account of cancellation of bookings for purchase of residential, commercial property, RBI clarified...

Q: Are there any formalities to be completed by foreign nationals of Indian origin for purchasing a residential immovable property?

A: They are required to file a declaration in Form IPI 7 with the Central Office of the Reserve Bank of India at Mumbai within a period of 90 days from the date of purchase of immovable property or...

Q: Can NRIs buy real estate property in India?

A: Yes, NRIs can buy and sell real estate and commercial properties in India.