{"id":1013,"date":"2017-01-09T11:20:40","date_gmt":"2017-01-09T11:20:40","guid":{"rendered":"http:\/\/www.trimurty.com\/blog\/?p=1013"},"modified":"2017-01-09T11:22:58","modified_gmt":"2017-01-09T11:22:58","slug":"important-guidelines-nri-property-investment","status":"publish","type":"post","link":"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/","title":{"rendered":"Important Guidelines for NRI Property Investment"},"content":{"rendered":"<p style=\"text-align: justify;\">All matters related to property investment are tricky and require utmost attention. The reason for calling them tricky is subjected to the fact that most of us are ill-informed about in-depth laws about such investments. We have already answered some <a href=\"http:\/\/www.trimurty.com\/blog\/nri-property-investment-answer-queries\/\">frequently asked questions <\/a>on the matter, and now it is time to give some relevant guidelines on the subject \u2013<\/p>\n<p style=\"text-align: justify;\">1.\u00a0\u00a0\u00a0\u00a0 Documents Required<\/p>\n<p style=\"text-align: justify;\">For making any property investment, NRI\u2019s need PAN card. In the case of PIO and OCI, respective PIO and OCI card is also required. Apart from this, certain other document required are \u2013 address proof, work permit, POA (if any), etc.<\/p>\n<p style=\"text-align: justify;\">2.\u00a0\u00a0\u00a0\u00a0 RBI Approval<\/p>\n<p style=\"text-align: justify;\">RBI has granted permission to NRI\/PIO\/OCI to purchase property in India. However, there is a restriction on the purchase of commercial properties including plantation\/agriculture\/farm house. Special permission from RBI is required in case of acquisition of such properties.<\/p>\n<p style=\"text-align: justify;\">3.\u00a0\u00a0\u00a0\u00a0 Restricted Citizenship<\/p>\n<p style=\"text-align: justify;\">There are certain PIO that are not allowed to purchase property in India pertaining to their nationality. Such PIO requires special permission from RBI to go forth with such investments. The list includes following countries \u2013 Bhutan, Nepal, China, Pakistan, Iran, Sri Lanka, Bangladesh, and Afghanistan.<\/p>\n<p style=\"text-align: justify;\">4.\u00a0\u00a0\u00a0\u00a0 Number of Properties<\/p>\n<p style=\"text-align: justify;\">According to RBI mandate, there is no restriction on the number of properties purchased by NRI.<\/p>\n<p style=\"text-align: justify;\">5.\u00a0\u00a0\u00a0\u00a0 Lease Properties<\/p>\n<p style=\"text-align: justify;\">NRI\/PIO\/OCI can take residential or commercial properties on lease in India of a period of 5 years with any restriction.<\/p>\n<p style=\"text-align: justify;\">6.\u00a0\u00a0\u00a0\u00a0 Change in Status<\/p>\n<p style=\"text-align: justify;\">There will be no change in the status of the property if in future one\u2019s status changes from Indian resident to NRI. According to law, rules and regulations are applied according to the status of the owner at the time of purchase.<\/p>\n<p style=\"text-align: justify;\">7.\u00a0\u00a0\u00a0\u00a0 Income Tax<\/p>\n<p style=\"text-align: justify;\">There is no difference in the income tax rules applied to NRI\u2019s or Indian residents in case of capital gain and income from house property. For all the revenue earned by NRI\/PIO\/OCI from India, it is mandatory to file Income Tax Return.<\/p>\n<p style=\"text-align: justify;\">8.\u00a0\u00a0\u00a0\u00a0 Double Taxation Avoidance Agreement<\/p>\n<p style=\"text-align: justify;\">India has signed DTAA treaty with various countries, under with capital gains in India against the sale of property is to be taxed in India. NRI\/OCI\/OCI can avail tax credit in their home country against such taxes paid in India. It is therefore required for NRI\u2019s to check DTAA treaty rules between their countries of origin and India.<\/p>\n","protected":false},"excerpt":{"rendered":"All matters related to property investment are tricky and require utmost attention. The reason for calling them tricky&hellip;","protected":false},"author":1,"featured_media":1015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_display_header_overlay":false,"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","csco_post_video_location":[],"csco_post_video_location_hash":"","csco_post_video_url":"","csco_post_video_bg_start_time":0,"csco_post_video_bg_end_time":0,"csco_post_video_bg_volume":false,"footnotes":""},"categories":[1,3,63],"tags":[],"class_list":{"0":"post-1013","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-property-investment","8":"category-real-estate","9":"category-trimurty","10":"cs-entry","11":"cs-video-wrap"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Important Guidelines for NRI Property Investment<\/title>\n<meta name=\"description\" content=\"All matters related to property investment are tricky and require utmost attention. 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The reason for calling them tricky is subjected to the fact that most of us are ill-informed about in-depth laws about such investments.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/\" \/>\n<meta property=\"og:site_name\" content=\"Trimurty Builders Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TrimurtyBuilders\" \/>\n<meta property=\"article:published_time\" content=\"2017-01-09T11:20:40+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2017-01-09T11:22:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.trimurty.com\/blog\/wp-content\/uploads\/2017\/01\/nri-property.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"500\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Trimurty\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Trimurty\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/\"},\"author\":{\"name\":\"Trimurty\",\"@id\":\"https:\/\/www.trimurty.com\/blog\/#\/schema\/person\/918415481e60860d4e66ff8daf251e9a\"},\"headline\":\"Important Guidelines for NRI Property Investment\",\"datePublished\":\"2017-01-09T11:20:40+00:00\",\"dateModified\":\"2017-01-09T11:22:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/\"},\"wordCount\":399,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.trimurty.com\/blog\/wp-content\/uploads\/2017\/01\/nri-property.jpg\",\"articleSection\":[\"Property Investment\",\"Real Estate\",\"Trimurty\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/\",\"url\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/\",\"name\":\"Important Guidelines for NRI Property Investment\",\"isPartOf\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/important-guidelines-nri-property-investment\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.trimurty.com\/blog\/wp-content\/uploads\/2017\/01\/nri-property.jpg\",\"datePublished\":\"2017-01-09T11:20:40+00:00\",\"dateModified\":\"2017-01-09T11:22:58+00:00\",\"author\":{\"@id\":\"https:\/\/www.trimurty.com\/blog\/#\/schema\/person\/918415481e60860d4e66ff8daf251e9a\"},\"description\":\"All matters related to property investment are tricky and require utmost attention. 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