Can the sale proceeds of such a property be remitted out of India?
Ans. Yes, In respect of immovable properties purchased on or after 26th May 1993 repatriation of sale proceeds up to the consideration amount remitted in foreign exchange for the acquisition of property will be permitted. This would be possible provided the sale takes place after, Three years from the date of final purchase deed or Three years from the date of payment of final installment of consideration amount whichever is later.
