Buying Property from an NRI: Legal Rules You Must Know

0
1K

Buying property from a Non-Resident Indian (NRI) requires compliance with FEMA and Income Tax laws. Payments must be made through banking channels to the seller’s NRO account—cash or foreign currency is not allowed. Under Section 195, buyers must deduct TDS at 14.95% on the full sale value and file Form 27Q within 30 days. If the NRI provides a lower deduction certificate, TDS can be reduced. Key documents include the registered sale deed, PAN, passport, EC, NOCs, and Power of Attorney if the seller is abroad. Buyers must also file Form 15CA and obtain Form 15CB from a Chartered Accountant before remitting funds. Always consult a lawyer and CA to ensure smooth compliance and avoid penalties.

Search
Categories
Read More
NexMates
Pure Water. Pure Peace. – NexMates Water Purifier Services
Clean water isn’t a luxury—it’s a daily need. Whether you're installing a new...
By NexMates 2025-06-27 06:53:12 0 873
NexMates
Finding the Right Electronics Service Provider Through NexMates
Whether it's a broken smartphone, a faulty laptop, or a malfunctioning home appliance, finding...
By NexMates 2025-04-30 04:35:49 0 2K
PropMates
Trust Issues in Real Estate? Let PropMates Be Your Proof
In real estate, trust is everything.But what happens when people doubt your experience? Or...
By PropMates 2025-07-05 11:27:12 0 2K
Karnataka
Affordable Housing Push in Mysuru: 100 Units Launched in Vijayanagar at ₹25–35 Lakh
April 2025 | Mysuru — In a boost to affordable urban housing in Karnataka’s cultural...
By Shaik Meenu 2025-05-01 13:09:09 0 3K
PropMates
You’re More Than Just Another Agent – Let PropMates Prove It
The market is flooded with agents.But you're not "just another agent" — you're someone who...
By PropMates 2025-07-05 11:54:02 0 1K
PROPIINN | IINNSIDE https://agent.propiinn.com