NRIs can allow an agent to do property deals on their behalf - News Summed Up

NRIs can allow an agent to do property deals on their behalf


Is it possible for her to open an NRO account, with this relative as the mandate holder, to take care of the transaction? PatelWith the help of a power of attorney, NRIs who are not physically present in India can allow their attorney or agent to carry out property transactions on their behalf. The agents can also open an NRO account jointly with the NRIs to deposit the proceeds of the property sale. The balance in an NRO account can be repatriated up to $1 million per financial year. However, since you have sold them in India, it is advised that you include them in your tax return in India.


Source: Mint January 22, 2018 11:48 UTC



Loading...
Loading...
  

Loading...

                           
/* -------------------------- overlay advertisemnt -------------------------- */