Acquisition and transfer of immovable property outside India permitted for residents, with RFC purchase and gift-to-relative rules. Regulation 5 permits residents to acquire immovable property outside India by gift or inheritance from specified persons or by purchase from foreign exchange held in a Resident Foreign Currency account, and allows such residents to gift acquired property to a resident relative; it also permits Indian companies with overseas offices to acquire immovable property abroad for business and staff residential purposes subject to regulatory directions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Acquisition and transfer of immovable property outside India permitted for residents, with RFC purchase and gift-to-relative rules.
Regulation 5 permits residents to acquire immovable property outside India by gift or inheritance from specified persons or by purchase from foreign exchange held in a Resident Foreign Currency account, and allows such residents to gift acquired property to a resident relative; it also permits Indian companies with overseas offices to acquire immovable property abroad for business and staff residential purposes subject to regulatory directions.
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