Ruchie Khanna (Company Secretary) (123 Points)
12 August 2010Dear All,
As per the FEMA (Acq. & Tr of Immovable properties in India) Rules, 2000 a person of Indian Orgin can transfer by gift agricultural lands to an Indian Citizen under the general permissions of RBI.
Can anyone provide me the procedure for the same?? Can the gift be made by mere execution of Gift Deed..Any RBI approvals and forms need to be filed??
Pl. Help!!
Thanks & Regards,
Ruchie
Hai..............
Good morning............
Welcome to this forum.....
Can anyone provide me the procedure for the same?? Can the gift be made by mere execution of Gift Deed..Any RBI approvals and forms need to be filed??Pl. Help!!
Have a nice day......
Thank you for sharing with us.....
regards ,
phe9oxis.
https://www.guidebuddha.com
CA. Anuj Gupta
(Practices in NRI Int.Tax FEMA TP FDI/FIPB & FCRA)
(7024 Points)
Replied 28 April 2011
| Originally posted by : Ruchie Khanna | ||
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Dear All, As per the FEMA (Acq. & Tr of Immovable properties in India) Rules, 2000 a person of Indian Orgin can transfer by gift agricultural lands to an Indian Citizen under the general permissions of RBI. Can anyone provide me the procedure for the same?? Can the gift be made by mere execution of Gift Deed..Any RBI approvals and forms need to be filed?? Pl. Help!! Thanks & Regards, Ruchie |
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The procedure for the same shall be to make a valid gift deed and get the same registered with registrar. No RBI approval is needed provided the same is transferred to Citizen of India who is also resident of India.
Anuj
0-9810106211
CAclubindia
