Foreign property acquisition: regulatory authority may permit Indian companies with overseas offices to buy immovable property abroad for staff housing. The amendment inserts a new sub-regulation empowering the central monetary authority to permit, on application, companies incorporated in India that have overseas offices to acquire immovable property outside India for business purposes and for residential use by their staff, subject to such terms and conditions as the authority may consider necessary.
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.
Foreign property acquisition: regulatory authority may permit Indian companies with overseas offices to buy immovable property abroad for staff housing.
The amendment inserts a new sub-regulation empowering the central monetary authority to permit, on application, companies incorporated in India that have overseas offices to acquire immovable property outside India for business purposes and for residential use by their staff, subject to such terms and conditions as the authority may consider necessary.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
TaxTMI 
