NRIs are allowed to purchase residential and commercial properties in India without any restrictions. They can buy immovable property in India through various channels, including the Reserve Bank of India's general permission scheme or by way of inheritance. NRIs can also avail home loans in India to finance their property purchase.
Read moreReplied by Krunal Banerjee On 6/7/2023
NRIs must file an income tax return in India if they bought property there and their income exceeds the basic exemption amount. The Income Tax Act allows them to deduc...
Replied by Drishya Seth On 5/7/2023
NRIs should not transfer funds to their parents accounts for purchasing real estate in India, as it may attract regulatory scrutiny for violating foreign exchange laws. Instead, NRIs must us...
Replied by Srishti Kashyap On 5/7/2023
From July 1, 2017, there is no longer a service tax in India. In India, sales of under-construction properties are subject to GST. You must pay the same amount o...
Replied by Neelanjana Grover On 5/7/2023
Without a PAN card, NRIs cannot sell real estate in India. A PAN card is necessary to complete registration and pay the necessary taxes on sale revenues. Before selling thei...
Replied by Kshitidhar Gill On 5/7/2023
Here is a guide for NRIs buying property in India:
• Understand the rules for NRIs buying property in India.
• Determine purpose and budget.
• Research property location and type.
• Hire ...
Replied by Nikhita Chopra On 4/7/2023
NRIs can rent out their real estate in India but must adhere to the Income Tax Act and RBI guidelines. They must have a PAN card and an NRO/NRE account...
Replied by Laxmi Kapadia On 4/7/2023
NRIs who sell a property in India and send the proceeds back to the US may be required to pay Indian capital gains tax and US taxes on the repatriate...
Replied by Vratesh Kapoor On 6/7/2023
Surely, NRIs can give their brothers, as well as their other siblings, residential property in India. Nonetheless, the property transfer must adhere to the guidelines and laws outlined by th...
Replied by Deepali Burman On 4/7/2023
When purchasing real estate in India, NRIs frequently neglect to conduct adequate due diligence. NRIs should ensure that they have a lawyer verify all paperwork, research the builders track record...
Replied by Tapani Das On 6/7/2023
Yes, NRIs and their spouses who are Indian residents can jointly purchase property in India. Depending on the needs of the NRI, either a repatriation basis or a non-repatriation basi...
