Under the Indian income tax (IT) laws, a property owner is liable to pay taxes to the government on its sale, based on the holding period and profit earned (known as capital gains). The … READ FULL STORY
SC to set up new bench to hear buyer grievances The Supreme Court will constitute a fresh bench to hear the plea of Amrapali Group homebuyers. The November 14, 2022, decision by the apex … READ FULL STORY
What is Foreign Exchange Management Act? With the aim of facilitating external trade and payments to foreign countries and promoting the orderly development of the foreign exchange market in India, the government of India … READ FULL STORY
Laws governing property ownership by non-residents in India are not only different from the laws governing residents, they are also quite complicated. Even though there is a wide range of assets that NRIs can own … READ FULL STORY
A non-resident Indian (NRI), who is interested in buying a property in India, can do so. However, his property investment must be made in line with the provisions of the Foreign Exchange Management Act … READ FULL STORY
With gross domestic product (GDP) contracting 24% in the June quarter of 2020, there is little doubt that India needs large economic reforms, to set things in order and to create a new wave … READ FULL STORY
The Indian real estate market offers a lucrative investment opportunity for non-resident Indians (NRIs). Like resident Indians, NRIs are also allowed to buy properties in India, with the help of home loans. However, the … READ FULL STORY
The provisions related to owning of an immovable property outside India by a resident Indian, are governed by the Foreign Exchange Management Act (FEMA). Owning an immovable property The FEMA restricts Indian residents … READ FULL STORY
Non-resident Indians (NRIs) have been a significant segment of investors, in the Indian real estate market. NRIs generally buy properties in India for investment purposes or out of their emotional connect with their country … READ FULL STORY
The Enforcement Directorate (ED), on July 31, 2019, said it has seized an IT park worth over Rs 86 crores in Hyderabad’s Gachibowli area, in connection with an alleged foreign exchange law violation probe … READ FULL STORY
The Enforcement Directorate (ED), has said that it has issued a seizure order, under section 37A of FEMA, freezing a flat in the posh Vasant Kunj area of Delhi and a land in Chauba … READ FULL STORY
Central probe agency, the Enforcement Directorate (ED), on December 15, 2018, in a statement, said that it has taken action against Shravan Gupta, the former MD of realty major Emaar MGF, under the Foreign … READ FULL STORY
The Supreme Court, on October 31, 2018, directed the Amrapali Group to disclose the names of all the companies, with which it had any kind of transactions, after forensic auditors pointed out that there … READ FULL STORY
