RKKhanapure (Health Worker) 24 August 2012
As an NRI- Indian citizen with a Indian passport, my son had bought and sold an agricultural land. It is since discovered that it is against the RBI ruling. He is now being blackmailed by few people of theratening a legal action. What is the future option/s?
Anish Thakur 7018812737 (advocate) 26 August 2012
respected querist,
buying of land by nri is not illegal and sale purchase also but the matter is what is the mode of investment in india by that nri,RBI only deals with the currency exchange and governs foreign money exchange policy,so if your son had purchased and sold out land through direct investment or not,mode of transaction,tax payable through investment or earned from other sources in india ,we had see many aspects before give you exact advise.
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