Can a NRI who had acquired commercial property in India while he was a person resident in India continue to hold or transfer such property? In which account the sale proceeds may be credited?
Yes, a NRI who had acquired commercial property in India while he was a resident in India may continue to hold such property. Under the general permission available he may transfer by way of sale or gift commercial property in India to a person resident in India or to a NRI / PIO. The sale proceeds may be credited to his NRO account.
Related Questions
- Can a NRI who had acquired commercial property in India while he was a person resident in India continue to hold or transfer such property? In which account the sale proceeds may be credited?
- Can a PIO who had acquired commercial property in India while he was resident in India continue to hold or transfer such property? In which account the sale proceeds may be credited?
- Can a NRI or PIO hold any commercial property in India acquired by way of inheritance from a person resident outside India?
