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of <h1>RBI Updates Rules for Property Transactions Under FEMA Regulations, 2014: Dealers Must Inform Clients of Tax Implications.</h1> The circular addresses Authorized Dealer Banks regarding the acquisition and transfer of immovable property under the Foreign Exchange Management Regulations, 2000. It clarifies that such property transactions are subject to applicable Indian tax laws. The Reserve Bank of India has amended the principal regulations through the Foreign Exchange Management (Acquisition and Transfer of Immovable Property in India) (Amendment) Regulations, 2014. Authorized Dealers are instructed to inform their constituents of these updates. The instructions in the circular are issued under specific sections of the Foreign Exchange Management Act, 1999, without affecting any other legal permissions or approvals required.
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