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NRI can enter rent agreements in India regarding his property in India. There are various ways of making rent agreements without the physical presence of the NRI. This article entails certain such methods. When an NRI has immovable property in India, he can let it out on rent.
The registered rent agreement or leave and license agreement may be signed by the POA holder for the rent agreement if owner is abroad. Once signed, the POA may be used to create numerous leave and license agreements for the exact place. This is how you can make the NRI rental agreement.
signatures are legally valid signatures for electronic documents, including online rent agreements. They are equal to physical signatures when certain authentication and security standards are met.
If you are wondering how to register a rental agreement in Mumbai, here is a brief idea of the online process. Login at efilingigr.maharashtra.gov.in. Select the document to be registered and click on next after entering the district and creating a password. Fill in the property details and save. Click on party details.
There are no separate rules for taxation of house property in India for residents and non-residents. Taxation rules are the same for both type of residency status. Rental income from the property situated in India is taxable in the hands of the owner of the house property, whether it is for an NRI or a resident Indian.