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 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.