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Where Can the regulations related to, NRI availing housing loan in rupees from his employer in India, be found?

April 26, 2017availing employer HOUSING India loan NRI regulations Rupees

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Where Can the regulations related to, NRI availing housing loan in rupees from his employer in India, be found?

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Ans. Terms and conditions regulations related to, NRI availing housing loan in rupees from his employer in India can be referred to in Regulation 8A to Notification No.FEMA 4/2000-RB dated 3rd May, 2000 and A.P. (DIR Series Circular No.27 dated October 10, 2003). Q.16 NRI wants to repatriate the sale proceeds of the residential property which was purchased by availing rupee loan and the loan was repaid by inward remittance / debit to NRE/FCNR(B) account. Can it be done? Ans. Yes. Loan repayment in foreign currency is treated as equivalent to the foreign exchange received for purchase of residential accommodation.