Q.25. Can NRI/ PIO/ OCI rent out the residential / commercial property purchased out of foreign exchange / rupee funds?

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Q.25. Can NRI/ PIO/ OCI rent out the residential / commercial property purchased out of foreign exchange / rupee funds? » Global Indian Solutions

Yes, NRI/PIO/OCI can rent out the property without the approval of the Reserve Bank. The rent received can be credited to NRO / NRE account or remitted abroad. Powers have been delegated to the Authorised Dealers to allow repatriation of current income like rent, dividend, pension, interest, etc. of NRIs/PIO/OCI who do not maintain an NRO account in India based on an appropriate certification by a Chartered Accountant, certifying that the amount proposed to be remitted is eligible for remittance and that applicable taxes have been paid/provided for.

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Q.25. Can NRI/ PIO/ OCI rent out the residential / commercial property purchased out of foreign exchange / rupee funds?

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