https://www.taxtmi.com/circulars?id=11714 Acquisition and transfer of immovable property by NRIs, PIOs, foreign missions, persons resident outside India for permitted activities, and foreign nationals of non-Indian origin are regulated under FEMA and RBI notifications. NRIs and PIOs may purchase and transfer non-agricultural property with payments only through permitted banking channels or non-resident accounts; repatriation of sale proceeds is allowed conditionally where acquisition complied with foreign exchange law and repatriation is limited to amounts traceable to permitted foreign exchange/non-resident accounts, with inheritance- and rupee-funded proceeds subject to documentary and tax-clearance requirements and prior approval when exceeding prescribed limits. Specific declaration, permission and documentation requirements apply, including Form IPI and prior RBI permission for certain nationalities. en-us Mon, 02 Jul 2012 00:00:00 +0530 Tue, 03 Jul 2012 16:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=11714 Acquisition and transfer of immovable property by NRIs, PIOs, foreign missions, persons resident outside India for permitted activities, and foreign nationals of non-Indian origin are regulated under FEMA and RBI notifications. NRIs and PIOs may purchase and transfer non-agricultural property with payments only through permitted banking channels or non-resident accounts; repatriation of sale proceeds is allowed conditionally where acquisition complied with foreign exchange law and repatriation is limited to amounts traceable to permitted foreign exchange/non-resident accounts, with inheritance- and rupee-funded proceeds subject to documentary and tax-clearance requirements and prior approval when exceeding prescribed limits. Specific declaration, permission and documentation requirements apply, including Form IPI and prior RBI permission for certain nationalities. Circulars FEMA Mon, 02 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/circulars?id=11714