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Can the house acquired by NRI be let out?

April 26, 2017acquired House let NRI

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Can the house acquired by NRI be let out?

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10 Posted

The RBI has granted general permission to NRIs and foreign citizens of India origin, to let out their residential properties. However, there are restrictions on the repatriation of the rental income earned from such letting out the property. The rental income is on a non-repatriation basis. Thus funds (rental income) can be credited to the NRO Account/ Residential Account in India.