RBI has vide circular no. 79 dated 15th February 2012 clarified that where a person resident outside India establishes in India an office, branch or a place of business and that office, branch or place of business acquires any immoveable property in India, then a declaration in form IPI has to be submitted to the RBI within 90 days of the said acquisition. However this declaration is not required to be given by a non-resident who is a Non-resident Indian or a person of Indian origin. The form clarifies this aspect as well. Which means that a NRI or a PIO need not make any reporting of their acquisition of immoveable property in India. The RBI circular can be found here
Subscribe to:
Post Comments (Atom)
International Clouded Leopard Day
International Clouded Leopard Day – Celebrating the Elusive Ghost of Asia's Forests Every year on 4th August , conservationists, wildlif...
-
Documentary on British Virgin Islands, the group of islands in the Caribbean which is ruled by the British, hence the prefix British to it... -
RBI has issued notification dated 5th August, 2014 wherein certain amendments to the regulatory framework involving securitisation/ reconstr...
-
MCA press release dated 17th july, 2019 The Union Cabinet today approved the proposal to introduce a Bill in the Parliament to carry out 08 ...
No comments:
Post a Comment