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Latest Questions Q: Can an OCI be given Power Of Attorney?
- 271 Days ago
- Others
- Business and Finance
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Q: If the immovable property was acquired by way of gift by the NRI/PIO, can he repatriate abroad the funds from the sale of such property?
A: The sale proceeds of immovable property acquired by way of gift should be credited to NRO account only. From the balance in the NRO account, NRI/PIO may remit up to USD one million, per financial...
- 304 Days ago
- Selling Property i..
- Business and Finance
- See Answer
Q: How long will it take to process an application?
A: can you please mention the application name which you want to process.
- 306 Days ago
- Others
- Business and Finance
- See Answer
Q: 1)Regarding POA- if husband gives POA in favor of his Spouse to sell the property India - does she need to be present while doing Attestation at Indian Conusltate office or not needed.- as the house is in both the names -first name spouse and second name is on husband
2)who can sign the POA as a witness (if they cannot be present at Indian consulate office).
3)what is validity of POA and does it counts from the day the document is notarized or does count after Indian consultants attest the POA.
please guide me
A: If you are an NRI and want to sell property in India by attesting a POA then please follow the reference links to know how you can attest POA and what documents are required to sell property in...
- 315 Days ago
- Selling Property i..
- Business and Finance
- See Answer
Q: Can a PIO transfer by way of sale his residential/commercial property to an NRI or a PIO?
A: No. A person resident outside India cannot acquire agricultural land/plantation property/farm house in India by way of gift
- 353 Days ago
- Selling Property i..
- Business and Finance
- See Answer
Q: Can a foreign national of non-Indian origin resident outside India transfer by way of sale agricultural land acquired by him in India?
A: A foreign national of non-Indian origin resident outside India would need to seek prior approval of Reserve Bank for transfer, by way of sale, agricultural land/plantation property/farm house...
- 353 Days ago
- Selling Property i..
- Business and Finance
- See Answer
Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year
The account can be credited with...
- 369 Days ago
- Others
- Business and Finance
- See Answer
Q: Can foreign embassies sell immovable property in India?
A: In terms of Regulation 5A of the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations 2000, Foreign Embassies/ Diplomats/ Consulates General may...
- 415 Days ago
- Selling Property i..
- Business and Finance
- See Answer
Q: What are the norms of repatriation of funds that arise from the sale of immovable property by NRI?
A: As per RBI norms, if the property was acquired through remittance via normal banking channels/by debit to NRE/FCNR (B) account, the amount to be repatriated should not exceed the amount paid for...
- 416 Days ago
- Selling Property i..
- Business and Finance
- See Answer
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...
- 418 Days ago
- Selling Property i..
- Business and Finance
- See Answer
Q: Can an OCI be given Power Of Attorney?
- 271 Days ago
- Others - Business and Finance
- Write an Answer
Q: If the immovable property was acquired by way of gift by the NRI/PIO, can he repatriate abroad the funds from the sale of such property?
A: The sale proceeds of immovable property acquired by way of gift should be credited to NRO account only. From the balance in the NRO account, NRI/PIO may remit up to USD one million, per financial...
- 304 Days ago
- Selling Property i.. - Business and Finance
- See Answer
Q: How long will it take to process an application?
A: can you please mention the application name which you want to process.
- 306 Days ago
- Others - Business and Finance
- See Answer
Q: 1)Regarding POA- if husband gives POA in favor of his Spouse to sell the property India - does she need to be present while doing Attestation at Indian Conusltate office or not needed.- as the house is in both the names -first name spouse and second name is on husband 2)who can sign the POA as a witness (if they cannot be present at Indian consulate office). 3)what is validity of POA and does it counts from the day the document is notarized or does count after Indian consultants attest the POA. please guide me
A: If you are an NRI and want to sell property in India by attesting a POA then please follow the reference links to know how you can attest POA and what documents are required to sell property in...
- 315 Days ago
- Selling Property i.. - Business and Finance
- See Answer
Q: Can a PIO transfer by way of sale his residential/commercial property to an NRI or a PIO?
A: No. A person resident outside India cannot acquire agricultural land/plantation property/farm house in India by way of gift
- 353 Days ago
- Selling Property i.. - Business and Finance
- See Answer
Q: Can a foreign national of non-Indian origin resident outside India transfer by way of sale agricultural land acquired by him in India?
A: A foreign national of non-Indian origin resident outside India would need to seek prior approval of Reserve Bank for transfer, by way of sale, agricultural land/plantation property/farm house...
- 353 Days ago
- Selling Property i.. - Business and Finance
- See Answer
Q: If an Indian Resident die and his executor in India transfer his money (3 crs) to an NRI who is grandson of deceased, whether RBI permission require for transfer of money from deceased or executor account to NRI (USA) in his NRO account in India. Deceased has made will and WILL is probated in Court.
A: Yes, an NRI/PIO can receive a gift from a resident relative. However, the amount cannot exceed the limit prescribed under LRS, i.e., $250,000 per financial year The account can be credited with...
- 369 Days ago
- Others - Business and Finance
- See Answer
Q: Can foreign embassies sell immovable property in India?
A: In terms of Regulation 5A of the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) Regulations 2000, Foreign Embassies/ Diplomats/ Consulates General may...
- 415 Days ago
- Selling Property i.. - Business and Finance
- See Answer
Q: What are the norms of repatriation of funds that arise from the sale of immovable property by NRI?
A: As per RBI norms, if the property was acquired through remittance via normal banking channels/by debit to NRE/FCNR (B) account, the amount to be repatriated should not exceed the amount paid for...
- 416 Days ago
- Selling Property i.. - Business and Finance
- See Answer
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...
- 418 Days ago
- Selling Property i.. - Business and Finance
- See Answer
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