Foreign national to sell ancestral property in india

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Neha Sanjay Sarawagi (Querist)
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03 December 2012 A Foreign National (US Citizen) of Indian Origin owns ancestral property in India. He wants to develop that property and then sell it. What is the compliance that he needs to take care of. (Reg PAN, RBI Limits or any such issues)
Please Help.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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03 December 2012 There are not much requirements apart from FEMA and Income Tax.

That can be taken care once the property is developed.

Anuj
femaquery@gmail.com

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Neha Sanjay Sarawagi

Neha Sanjay Sarawagi (Querist)
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03 December 2012 Thank u Sir. But please make me aware of the requirements under FEMA and IT Act.

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