Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Can sale proceeds of any commercial property inherited by NRI / PIO from a person resident in India be remitted abroad?

April 26, 2017Commercial India inherited NRI person PIO proceeds Property resident sale

0

Posted

Can sale proceeds of any commercial property inherited by NRI / PIO from a person resident in India be remitted abroad?

1 Answer

0

Posted

Yes. Amount not exceeding USD one million, per calendar year subject to production of documentary evidence in support of inheritance and Tax clearance certificate / no objection certificate; can be taken from the Income Tax authority to the authorized dealer for remittances.