Judgment Against Property For Nri In India In Dallas
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FAQ
Subject to the relevant Foreign Exchange Management Act, 1999, (FEMA) regulations, as an NRI or an OCI, you may sell any residential or commercial property in India to: A person resident in India; or. Any NRI/OCI.
Non-Resident Indians can sell their property in India and avail of tax benefits under Sections 54 and 54F of the Income Tax Act, as shown above. However, it is important to know the applicable tax rate on the property sale and file your TDS as per the correct process.
Can US citizens grant Power of Attorney for use in India? Yes, US citizens can grant Power of Attorney for use in India. However, the document must be notarized in the US, attested by the Indian consulate, and comply with Indian laws to be legally valid.
You can either sell your property in India while staying abroad (through POA) or when you visit India.
Generally, NRIs can sell residential and commercial properties without much restriction. However, selling agricultural land, farmhouses, or plantation property is only permitted under specific conditions, usually requiring prior approval from the Reserve Bank of India (RBI).
However, NRIs visiting India and Indian citizens leaving for employment abroad or as crew members of Indian ships are exempt from the 60-day rule. If NRIs visiting India earn more than ₹15 lakh (excluding foreign-sourced income), the 60-day requirement extends to 120 days.
Documents Required for NRI Marriage Registration Application Form: A completed registration application is available at the registrar's office. Passports of both spouses. Valid visa or Overseas Citizenship of India (OCI) card for NRIs. Address Proof: Aadhaar card/utility bills.
As a Non-Resident Indian (NRI)/Overseas Citizen of India (OCI), you may sell any immovable property in India, including residential or commercial, to a person resident in India or another NRI/PIO/OCI.
Case law, also used interchangeably with common law, is a law that is based on precedents, that is the judicial decisions from previous cases, rather than law based on constitutions, statutes, or regulations. Case law uses the detailed facts of a legal case that have been resolved by courts or similar tribunals.
Resident Indian (NRI), can inherit immovable property in India in two ways: Valid Will, i.e., testamentary succession; or. Laws of intestate succession i.e., when a person passes away without writing a valid Will and the property is inherited as per the relevant succession laws in India.
