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          FEMA

          What are the accepted modes of payment for property acquired in India?

          Purchase of Immovable Property - As on Apr 06, 2023

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          Payment methods for immovable property must use banking channels; travellers' cheques and foreign currency notes prohibited. Payment for acquisition of immovable property in India must be received in India through banking channels, be subject to applicable taxes and duties, and may be made from NRE, FCNR(B) or NRO accounts of NRIs/OCIs; travellers' cheques and foreign currency notes are not permitted.
                            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.

                                  Payment methods for immovable property must use banking channels; travellers' cheques and foreign currency notes prohibited.

                                  Payment for acquisition of immovable property in India must be received in India through banking channels, be subject to applicable taxes and duties, and may be made from NRE, FCNR(B) or NRO accounts of NRIs/OCIs; travellers' cheques and foreign currency notes are not permitted.


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