https://www.taxtmi.com/circulars?id=11139 The Master Circular consolidates FEMA-based rules governing acquisition and transfer of immovable property by NRIs, PIOs and foreign nationals, specifying that NRIs and PIOs may buy residential and commercial property but not agricultural land, plantation property or farmhouses; payments must be by inward remittance or from specified non-resident accounts; certain acquisitions require Form IPI declaration; repatriation of sale proceeds is conditional on original compliance, limits tied to original foreign exchange outlay or non-resident account balances, production of documentary evidence and tax clearance, and special permissions apply for diplomatic entities and citizens of specified countries. en-us Fri, 01 Jul 2011 00:00:00 +0530 Fri, 01 Jul 2011 13:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11139 The Master Circular consolidates FEMA-based rules governing acquisition and transfer of immovable property by NRIs, PIOs and foreign nationals, specifying that NRIs and PIOs may buy residential and commercial property but not agricultural land, plantation property or farmhouses; payments must be by inward remittance or from specified non-resident accounts; certain acquisitions require Form IPI declaration; repatriation of sale proceeds is conditional on original compliance, limits tied to original foreign exchange outlay or non-resident account balances, production of documentary evidence and tax clearance, and special permissions apply for diplomatic entities and citizens of specified countries. Circulars FEMA Fri, 01 Jul 2011 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11139