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Latest Questions

Q: How can NRIs do the sale/transfer of shares held by them with repatriation benefits?

A: In the case of shares /debentures /bonds acquired by NRIs through stock exchanges under the Portfolio Investment Scheme, general exemption has been granted for transfer through stock exchanges...

Q: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?

A: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or...

Q: Can residential property be sold by NRI without the permission of RBI?

A: Yes. Reserve Bank 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...

Q: Can home/land be sold by NRI without the permission of RBI?

A: Yes, the RBI has granted general permission for sale of property. However, where another foreign citizen of Indian origin purchases the property, funds towards the purchase consideration should...

Q: How to calculate long-term capital gains on sale of property by NRI?

A: Whether there was any income or if the property sold was ever rented has no bearing on the calculation of long-term capital gain. To calculate capital gain the price at which the property was...

Q: Is life certificate required to sell property in India with Power of Attorney(POA)?

A: While each state may have their own registration rules, when a document is presented for registration through Power of Attorney [POA] the Sub-Registrars are required to reasonably satisfy...

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: Me and my husband staying in Muscat but i have his poa but with attestation not registred can i use that poa to transfer the property or sale tge property

A: No, you cannot sell or transfer property without attestation of POA at Indian consulate. and the procedure to POA attestaion is Guidelines for Attestation of Documents Embassy performs...

Q: What are the rules to repatriate funds from sale of property?

A: The undertaking is given by the person sending the funds out and the CA issues the required certificate on the prescribed form. Repatriating funds from the sale of property held by NRIs has some...

Q: TDS rules in India when property is sold by NRI?

A: If NRI is selling a property in India after holding it for more than 3 years, then it is mandatory for buyer to deduct: •TDS is to be deducted at the rate of 20% plus Education Cess and Secondary...