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sanjay (Diractor)     24 March 2014

British citizen of indian origin holding property in india

Me and my wife moved to the United Kingdom around 1970 and are now citizens here holding a British Passport, We have not registered for OCI. Can I hold a property in the name of my wife, my son who was born in the United Kingdom and my daughter, who was born in India but is now a British citizen. Further can I apply for pan card and hold a saving account and earn interest for the same in India without declaration of it in the UK


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adv.raghavan

adv.raghavan (Advocate,9444674980)     24 March 2014

No you cannot hold property in India,and  answer for the last line query is negative. Violation of the above will invite FEMA proceedings.

Kapil Gupta

Kapil Gupta (Advocate)     24 March 2014

Your query indicates that you are trying to evade the taxes. It'll attract more complications and problems for you.

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