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Q: Should an NRI sell property in India prior to acquiring foreign citizenship?
A: NRIs on acquiring foreign citizenship do not lose their assets in India that they have legally acquired and owned.
If the properties you own in India were legally acquired, you would be able to...
Q: Which date should be calculated for capital gains date of purchase or date of allotment?
A: Date of letter of allotment can be considered to be the purchase date. The capital gain/loss in Indian rupee is converted US$ when filling US taxes.
Q: What is the procedure and cost to relinquish property in India?
A: Regarding procedure of relinquishment of property share:
.Get a qualified professional to prepare the papers
The .Relinquishment deed must be signed by both parties
.Relinquishment deed once...
Q: Can an NRI inherit agricultural land in India after getting foreign citizenship?
A: Yes, an NRI can inherit agricultural land in India and can legally own it.
Q: Can gold jewelry be taken on the transfer of residence?
A: No, gold jewelry cannot be taken under transfer of residency, transfer of residence allows duty-free import of used household goods.
The only duty-free allowance that can be availed when it comes...
Q: What is relinquish deed and NOC property in India?
A: Relinquishment deed is a legal document where a person gives up or releases his legal rights to the property in favor of some other person. Whereas NOC stands for ‘no objection certificate’ that...
Q: Can NRI keep property purchased before moving to abroad?
A: You can continue to hold property you acquired in India before becoming an NRI. When you sell your flat you may be able to transfer money from the sale proceeds depending on how long you held the...
Q: Is there any limit on inheriting property for OCI holder?
A: No, there is no limit for an OCI holder on inheriting property from parents.
Q: Hold property acquired before moving abroad?
Q: Can NRIs purchase property in India without OCI/PIO?
A: Nri's do not need to have OCI or PIO visa to purchase property in India. All NRIs can freely purchase residential or commercial property in India. Purchase of agricultural land or farm houses...
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