Can NRI/PIO acquire residential/commercial property by way of gift under the general permission available?
Ans.: Yes. Under general permission available NRI/PIO may acquire residential/commercial property by way of gift from a person resident in India or a NRI or a PIO. Q7.: Can a person resident outside India (i.e. NRI or PIO or foreign national of non-Indian origin) hold any immovable property in India acquired by way of inheritance from a person resident in India? Ans.: Yes. A person resident outside India can hold immovable property acquired by way of inheritance from a person resident in India as per the provisions of Section 6(5) of the Foreign Exchange Management Act, 1999.
Related Questions
- Can NRI / PIO acquire residential / commercial property by way of gift under the general permission available?
- Can NRI or PIO acquire residential or commercial property by way of gift under the general permission available?
- Can NRI/PIO acquire residential or commercial property by way of gift under the general permission available?
