News

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New figures reveal hike in Indian student applications for UK universities

Economic Times

Country cap on Green Card goes, thousands of Indians to benefit

Economic Times

Indians are high-earners in UK: Study

Economic Times

Another extradition setback for India as UK refuses to deport Indian-origin murder accused couple

Economic Times

UK counter-terror police arrest two British Sikhs

Times of India

Number of Indian students in UK rises 40%

Economic Times

NRI Guide

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US Customs Questions At The Airport
US Customs Questions At The Airport

US has strict strict customs and immigration checking counter. Such officials would make sure that the visitors are...

FEMA Guidelines For Outward Remittance
FEMA Guidelines For Outward Remittance

Every country has its own guidelines on the money going in and going out. This includes India which is a country...

What Happens When You Declare Money At Customs?
What Happens When You Declare Money At Customs?

International traveler need to mandatory undergo customs check while traveling through international passages and...

How To Exchange Indian Rupee To US Dollar In USA
How To Exchange Indian Rupee To US Dollar In USA

With the growing population of visitors (for various reasons such as education, career, and medical, among others) to...

Checklist For Travelling To USA From India
Checklist For Travelling To USA From India

Every country has mandated instructions for any visitor visiting the country which needs to be followed by the...

Temporary Green Card Travel Restrictions
Temporary Green Card Travel Restrictions

Green Card or a Permanent Resident Card is issued to all the permanent residents of USA which serves as a proof that...

Articles

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Ask, Answer & Discover

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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 May 26, 1993, the Reserve bank of India considers applications for repatriation of sale proceeds up to the consideration amount remitted...

Q: What is the procedure for seeking repatriation of sale proceeds?

A: Application for necessary permission for remittance of sale proceeds should be made in Form IPI 8 to the Central Office of the Reserve Bank of India at Mumbai within 90 days of the sale of the...

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 the rental income from the residential property be remitted outside India?

A: No. Such income cannot be remitted abroad and will have to be credited to the ordinary non-resident rupee account of the owner of the property. Restricted remittances are, however, now permitted.

Q: What are the conditions required to be fulfilled for repatriation of sale proceeds?

A: Applications for repatriation of sale proceeds are considered provided the sale takes place after three years from the date of final purchase deed or from the date of payment of final of...

Q: What are the RBI rules to repatriate rental income from property?

A: The rental income, being a current account transaction, is repatriable, subject to the appropriate deduction of tax and the certification thereof by a Chartered Accountant in practice. Repatriation...