Results for #immovable
Legal
#pio#immovable#property#rbi#permission
A PIO acquired immovable property in 1983 under FERA section 31 with RBI approval. RBI issued a notification (FERA 152/93-RB 26.05.1993) granting general permission with certain conditions. Over a period, foreign exchange regulations changed. Also, section 31 is no longer in existence. Therefore, can a PIO dispose by way of sale of a residential flat(acquired in 83) to a resident Indian without obtaining special approval of RBI as required by Section 31?
A PIO acquired immovable property in 1983 under FERA section 31 with RBI approval. RBI issued a notification (FERA 152/93-RB 26.05.1993) granting general permission with certain conditions. Over a period, foreign exchange regulations changed. Also, section 31 is no longer in existence. Therefore, can a PIO dispose by way of sale of a residential flat(acquired in 83) to a resident Indian without obtaining special approval of RBI as required by Section 31?
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Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Yes, the PIO can sell the property acquired by him to a resident Indian. However, the repatriation of funds received from such sale to any place out of India would depend on the relevant rules and regulations in connection therewith.
This question has not been answered
Legal
#registered#immovable#property
Is it possible for a registered will for an immovable proerty to be made in the name of one's daughter-in-law? Also, can the same property be registered in her name before the will is executed?
Is it possible for a registered will for an immovable proerty to be made in the name of one's daughter-in-law? Also, can the same property be registered in her name before the will is executed?
This question has not been answered
NRI
#pio#immovable#property
Can an NRI or a PIO repatriate the proceeds from the sale of an immovable property? If so, what are the terms for the same?
Can an NRI or a PIO repatriate the proceeds from the sale of an immovable property? If so, what are the terms for the same?
Answered on November 08, 2017
1.From the balances of NRO account – subject to declaration
2. Sale proceeds of assets
3. Assets acquired from legacy/ inheritance/ deed of settlement
they can remit up to USD 1 Million in a financial year
Legal
#immovable#transfer#giftdeed#taxes#property
If an immovable property is to be transferred via a gift deed, are there any taxes to be paid on the same?
If an immovable property is to be transferred via a gift deed, are there any taxes to be paid on the same?
Dhiren Shah,Advocate & Solicitor
291 Answered
Answered on November 08, 2017
Stamp duty for some close blood relatives is Rs.500/- for rest it is 2% of the Agreement value. There would also be registration fees for the Gift Deed, which is 1% of the value of the property or Rs.30000/- whichever is less.
