I have a property selling in India to another NRI who is willing to pay money to my NRE account in India and transfer to my USA bank account.
Can you guide me what and how to work on this issue in the current scenario?
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I don't see a question here.– NL - Apologize to MonicaJul 5 '17 at 14:33
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Nathan the question is. ...– SalmanJul 7 '17 at 6:01
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I have a property selling in India to another NRI who is willing to pay money to my NRE account in India and transfer to my USA bank account. Can you guide me what and how to work on this issue in the current scenario?– SalmanJul 7 '17 at 6:01
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An Indian citizen who is not a resident of India (an NRI) or a Person of Indian Origin (a PIO) is not permitted to sell or gift immovable property in India (real property for US readers) to another NRI or PIO; the property must be sold or gifted to a resident of India. So, assuming that the property in question is in India, you cannot sell it to your NRI friend.
answered Jul 5 '17 at 22:42
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Well the buyer is in gulf who is on temporary work permit and will be returning to India any time.– SalmanJul 7 '17 at 5:53
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Will you mind highlighting the source of this subject to do further reasearch .. the nri who buys it will be paying the registration price in india or in a foreign country as ppounds or dollars in NRE account. How does this work for the seller ... the person answering this question is a tax consultant he may share his email address or contact no so discussion on this topic will be easier. ..thanks– SalmanJul 7 '17 at 5:59