Everything NRIs and OCIs need to know about buying, owning and selling property in India - FEMA rules, taxation, repatriation and country-specific guidance.
NRIs can purchase residential and commercial property in India freely. Agricultural land, farmhouses and plantation property require special RBI approval.
Under FEMA, sale proceeds of up to 2 properties can be repatriated. Funds must route through NRE/NRO accounts with proper documentation.
NRE accounts hold foreign earnings, fully repatriable and tax-free in India. NRO accounts hold India-sourced income, partially repatriable and taxable.
A registered POA lets a trusted person execute transactions on your behalf in India - essential for NRIs who cannot travel for every step.
Rental income from Indian property is taxable in India regardless of residency. TDS of 30% applies on rent paid to NRI landlords under Section 195.
NRIs can get home loans from Indian banks up to 80% LTV. Loan must be repaid through NRE/NRO account or remittance from abroad.
India-US DTAA prevents double taxation. Report Indian property income on US tax return (Form 1116 for foreign tax credit).
No personal income tax in UAE. Indian rental income still taxable in India at applicable slab rates with TDS deduction.
India-UK DTAA applies. UK residents must declare worldwide income including Indian property gains under HMRC rules.
India-Singapore DTAA in effect. Capital gains on Indian property sale may attract tax in both jurisdictions with credit relief.
Australian tax residents must report global income. Indian property income subject to both Indian TDS and Australian tax with offset credit.
India-Canada tax treaty applies. Foreign property reporting (Form T1135) required if cost exceeds CAD 100,000.
Disclaimer: NRI tax and FEMA information provided is general guidance only, not legal or tax advice. Tax treaties and rules change frequently. Always consult a qualified CA and lawyer familiar with both Indian and your country of residence regulations.