https://www.taxtmi.com/acts?id=32308 An NRI or OCI may acquire immovable property in India other than agricultural land, farmhouses or plantation property provided consideration is received by inward remittance through banking channels or from permitted non-resident accounts; prohibited payment modes include traveler's cheques and foreign currency notes. Acquisition by gift from residents or qualifying relatives and acquisition by inheritance (where prior acquisition complied with foreign exchange rules) are permitted. NRIs and OCIs may transfer immovable property to persons resident in India and may transfer non-agricultural immovable property to other NRIs or OCIs. en-us Tue, 15 May 2018 17:40:55 +0530 Thu, 19 Jun 2025 16:32:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=32308 An NRI or OCI may acquire immovable property in India other than agricultural land, farmhouses or plantation property provided consideration is received by inward remittance through banking channels or from permitted non-resident accounts; prohibited payment modes include traveler's cheques and foreign currency notes. Acquisition by gift from residents or qualifying relatives and acquisition by inheritance (where prior acquisition complied with foreign exchange rules) are permitted. NRIs and OCIs may transfer immovable property to persons resident in India and may transfer non-agricultural immovable property to other NRIs or OCIs. Act-Rules FEMA Tue, 15 May 2018 17:40:55 +0530 https://www.taxtmi.com/acts?id=32308