Amendment Expands 'Person of Indian Origin' Definition for Property Purchase to Include Maternal Lineage from October 2009.
The circular addresses an amendment to the definition of 'Person of Indian Origin' (PIO) concerning the purchase of immovable property in India. The amendment, effective from October 5, 2009, expands the definition to include individuals whose mother or grandmother was a citizen of India under the Constitution of India or the Citizenship Act, 1955. This change is communicated to all Authorized Dealer Category-I banks, which are instructed to inform their clients and customers. The circular is issued under the Foreign Exchange Management Act, 1999, and does not affect other legal permissions or approvals.
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