As per FEMA Act 1999 an NRI cannot purchase agricultural property in India without the prior permission of RBI.So what is the legal implication if an NRI had purchased agricultural property without the permission of RBI or is there any exception to this rule??
1 Replies
CA Saroj Kumar
(Keen to learn something new every moments)
(2588 Points)
Replied 30 April 2014
Its shall be violation of FEMA and henc liable for pealty under FEMA.....Read more foe panlties////there is heavy penalties fro this.....
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