Purchase of nri property

adityamehta (Querist) 14 April 2015 This query is : Resolved
One plot of land belongs to NRI he propose to dispose off the same, I am interested to Buy, is it necessary to obtain the permission from RBI, if so then who is responsible to obtain, if I buy with out permission, am I liable to pay any Tax, what precaution should I take before making any payment. It is a non Agricultural land which will be used for construction. I need your expert advise.

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prabhakar singh (Expert) 14 April 2015
visit

http://articles.economictimes.indiatimes.com/2011-08-25/news/29922773_1_india-through-normal-banking-repatriation-nro-account

also

http://articles.economictimes.indiatimes.com/2012-10-01/news/34198030_1_plan-and-occupation-certificate-property-share-certificate

Rajendra K Goyal (Expert) 14 April 2015
TDS on capital gains need to be deducted and deposited.

FEMA rules has to be observed.

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Purchase of nri property

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