NRIs & PIOs not required to report details of transactions while purchasing immovable property in India

The Reserve Bank of India (RBI) has clarified that Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs) are not required to report the details of transactions while purchasing immovable property in India.

Foreigners have to report a transaction to RBI in a prescribed IPI form within 90 days from the date of acquisition.

2017-06-02T12:55:25+00:00