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Can the residential property be given on rent if not required for immediate use?

April 26, 2017given immediate Property rent Residential

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Can the residential property be given on rent if not required for immediate use?

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Yes. Reserve Bank has granted general permission for letting out any immovable property in India. The rental income or proceeds of any investment of such income are eligible for repatriation. Rental income or proceeds of any investment of such income has to be credited to NRO account.