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Are NRIs permitted to send remittances outside India out of the sale of immovable property in India that is inherited by them?

April 26, 2017immovable India inherited NRIs outside permitted Property remittances sale send

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Are NRIs permitted to send remittances outside India out of the sale of immovable property in India that is inherited by them?

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Yes, general permission is available to the NRIs/PIO to repatriate the sale proceeds of the immovable property inherited from a person resident in India. NRIs/PIO may repatriate an amount not exceeding USD one million, per financial year, on production of documentary evidence in support of acquisition/inheritance of assets, an undertaking by the remitter and certificate by a Chartered Accountant in the formats prescribed by the Central Board of Direct Taxes vide their Circular No. 10/2002 dated October 9, 2002 [cf.A.P. (DIR Series) Circular No.