Can NRI/ PIO Remit Sale Proceeds of Inherited Immovable Property?

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Sale proceeds of any immovable property inherited by NRI / PIO from a person resident in India can be remitted abroad subject to a ceiling of USD one million per financial year subject to production of documentary evidence in support of inheritance and Tax clearance certificate / no objection certificate from the Income Tax authority…

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Anuj is a practicing Chartered Accountant with more than 14 years post qualification experience ,specializing in International Taxation ,FEMA ,NRI Taxation , FCRA , FDI/FIPB Approvals and Transfer Pricing. He is also a qualified Company Secretary and DISA from ICAI. He has also done the Certificate Course on International Taxation(ICAI).He was the Member of the Committee of International Taxation, ICAI for the year 2010-11 and Member of the FEMA & International Taxation Research Group of NIRC of ICAI .He is currently Secretary of Delhi Chapter of The Chamber of Tax Consultants, Mumbai and Member of Infotech & 4i Committee of Bombay Chartered Accountants Society, Mumbai. femaquery@gmail.com +91-9810106211

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