Q28. Is a NRI/PIO/OCI liable to pay taxes and file its Income Tax Return on Sale of Immovable property in India?

Q26. Can a person who had bought immovable property, when he was a resident, continue to hold such property even after becoming an NRI/PIO/OCI ? In which account can the sale proceeds of such immovable property be credited?

Yes, A person who had bought the residential / commercial property / agricultural land/ plantation property / farm house in India when he was a resident, can continue to hold the immovable property without the approval of the Reserve Bank…

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