Repatriation of sale proceeds restricted: permitted only where acquisition complied with foreign exchange rules and traceable funds are shown. Acquisition and transfer of immovable property by NRIs, PIOs, foreign missions, persons resident outside India for permitted activities, and foreign nationals of non-Indian origin are regulated under FEMA and RBI notifications. NRIs and PIOs may purchase and transfer non-agricultural property with payments only through permitted banking channels or non-resident accounts; repatriation of sale proceeds is allowed conditionally where acquisition complied with foreign exchange law and repatriation is limited to amounts traceable to permitted foreign exchange/non-resident accounts, with inheritance- and rupee-funded proceeds subject to documentary and tax-clearance requirements and prior approval when exceeding prescribed limits. Specific declaration, permission and documentation requirements apply, including Form IPI and prior RBI permission for certain nationalities.
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.
Repatriation of sale proceeds restricted: permitted only where acquisition complied with foreign exchange rules and traceable funds are shown.
Acquisition and transfer of immovable property by NRIs, PIOs, foreign missions, persons resident outside India for permitted activities, and foreign nationals of non-Indian origin are regulated under FEMA and RBI notifications. NRIs and PIOs may purchase and transfer non-agricultural property with payments only through permitted banking channels or non-resident accounts; repatriation of sale proceeds is allowed conditionally where acquisition complied with foreign exchange law and repatriation is limited to amounts traceable to permitted foreign exchange/non-resident accounts, with inheritance- and rupee-funded proceeds subject to documentary and tax-clearance requirements and prior approval when exceeding prescribed limits. Specific declaration, permission and documentation requirements apply, including Form IPI and prior RBI permission for certain nationalities.
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