Regarding inherited property sale by PIO
ashis talukder
(Querist) 16 December 2015
This query is : Resolved
An inherited property situated in west Bengal,a person of Indian Origin want to sale d above to an Indiana citizen. Is any prior permission from RBI is required for registration? Then what will b d procedure have to follow. Plz guide.
P. Venu
(Expert) 17 December 2015
How was the property inherited?
Rajendra K Goyal
(Expert) 17 December 2015
General permission is available to NRIs and PIOs to repatriate the sale proceeds of property inherited from an Indian resident, subject to certain conditions. If those conditions are fulfilled, the NRI need not seek the RBI's permission. However, if the NRI has inherited the property from a person residing outside India, he or she must seek specific permission from the RBI.
Read more at: http://www.moneycontrol.com/news/real-estate/find-out-legal-aspects-for-nris-selling-propertyindia_934794.html#anchore_top_strip?utm_source=ref_article
Dr J C Vashista
(Expert) 20 December 2015
Well advised by expert Sh. Rajendra K Goyal, I fully agree and no room left to add.
A. A. JOSE
(Expert) 21 December 2015
Nothing further to add. Well advised by Shri.Rajendra Goyal.
T. Kalaiselvan, Advocate
(Expert) 26 December 2015
I agree with t opinions of expert Mr. Rajendra K Goyal on the subject issue.
