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Can a foreign national of non-Indian origin resident outside India transfer by way of gift agricultural land or plantation property or farm house acquired by him in India?

April 26, 2017foreign gift India National non-Indian origin outside resident transfer

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Can a foreign national of non-Indian origin resident outside India transfer by way of gift agricultural land or plantation property or farm house acquired by him in India?

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A. No. A foreign national of non-Indian origin resident outside India would need to seek prior approval of Reserve Bank for transfer by way of gift agricultural land or plantation property or farm house acquired by him in India.