https://www.taxtmi.com/article/detailed?id=7950 NRIs and OCIs may acquire and transfer immovable property in India except agricultural land, farm houses and plantations, provided consideration is paid only through permitted banking channels or eligible nonresident accounts; acquisition by gift or inheritance is allowed from specified persons and transfers to residents, NRIs or OCIs are permitted. Persons resident outside India with an established business in India (excluding liaison offices) may acquire necessary property, must file prescribed declarations, and may mortgage such property to authorized dealers. Restrictions bar certain foreign nationals from acquisition without Reserve Bank permission and limit repatriation of sale proceeds to transactions compliant with foreign exchange law and use of permitted accounts. en-us Fri, 06 Apr 2018 07:41:15 +0530 Fri, 06 Apr 2018 07:41:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=7950 NRIs and OCIs may acquire and transfer immovable property in India except agricultural land, farm houses and plantations, provided consideration is paid only through permitted banking channels or eligible nonresident accounts; acquisition by gift or inheritance is allowed from specified persons and transfers to residents, NRIs or OCIs are permitted. Persons resident outside India with an established business in India (excluding liaison offices) may acquire necessary property, must file prescribed declarations, and may mortgage such property to authorized dealers. Restrictions bar certain foreign nationals from acquisition without Reserve Bank permission and limit repatriation of sale proceeds to transactions compliant with foreign exchange law and use of permitted accounts. Articles FEMA - Foreign Exchange Management Fri, 06 Apr 2018 07:41:15 +0530 https://www.taxtmi.com/article/detailed?id=7950