Can a foreign person (not an Indian citizen or Indian origin ) invest in an immovable property in India (other than for real estate business ) ,please explain according to FEMA with clear sections?
1 Replies
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FD)
(7024 Points)
Replied 30 March 2011
The answer is NO if the non resident is not an resident as per FEMA.
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