Our grandfather has gifted us agricultural land by way of a registered gift deed. How can we cancel the deed and give the land to our grandmother. VeluvoluAn Overseas Citizen of India may transfer agricultural land by way of gift to a resident in India and Indian citizen, under the Foreign Exchange and Management Act, 1999 (Fema) and its regulations. We are assuming you complied with Fema norms when the land was gifted to you. Thereafter, a gift deed in your grandmother’s favour should be executed and registered with the appropriate sub-registrar of assurances.

Source: Mint July 14, 2020 15:23 UTC