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How should the NRI/PIO pay for acquisition of property in India?

April 26, 2017acquisition India NRI pay PIO Property

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How should the NRI/PIO pay for acquisition of property in India?

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The property should be acquired using funds remitted to India through the normal Banking Channel or funds held in NRE/FCNR/NRO accounts. .Such payments cannot be made using traveler’s cheque or by foreign currency notes.