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Into which account the sale proceeds of residential or commercial property received by way of gift by NRI or PIO can be credited?

April 26, 2017account Commercial gift NRI proceeds Property received Residential sale

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Into which account the sale proceeds of residential or commercial property received by way of gift by NRI or PIO can be credited?

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A. The sale proceeds of residential or commercial property received by way of gift by NRI or PIO should be credited to NRO account only.