Refund of purchase consideration on account of non-allotment of flats/plots/cancellation of bookings/deals in respect of immovable property purchased by NRIs/PIOs in India
📋
Contents
Cases Cited
Referred In
Notifications
Circulars
Forms
Manuals
Acts
Rules & Regulations
Case Laws New
Ref Provisions New
Plus +
Source NTF
Summary
Similar
Note
Bookmark
Share
✓ Copied successfully !
Print
Print Options
For full text, please login
Login to TaxTMI
Verification Pending
The Email Id has not been verified. Click on the link we have sent on
Refunds to NRE/FCNR accounts permitted for NRIs/PIOs on non allotment or cancellation, subject to original payment origin and verification. Refunds of purchase consideration for non-allotment or cancellation may be credited to NRE/FCNR accounts, with interest net of tax, provided the original payment originated from the holder's NRE/FCNR account or remittance from outside India and the authorised dealer is satisfied about the genuineness of the transaction.
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.
Refunds to NRE/FCNR accounts permitted for NRIs/PIOs on non allotment or cancellation, subject to original payment origin and verification.
Refunds of purchase consideration for non-allotment or cancellation may be credited to NRE/FCNR accounts, with interest net of tax, provided the original payment originated from the holder's NRE/FCNR account or remittance from outside India and the authorised dealer is satisfied about the genuineness of the transaction.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
