Yes, a non-resident Indian should buy both residential assets or industrial assets in India. Further,
there may be no restriction on the quantity of residential or industrial residences that an NRI should purchase in India.
Exception: An NRI can not purchase agricultural land, plantation land or a farm residence in India.
He can not even accumulate such assets as a gift.
It is mandatory for the client of the property (best whilst the vendor is a non-resident) to achieve a Tax Deduction and Collection Account Number. The exemption blessings to be had on Long Term Capital Gain beneathneath phase fifty-four and phase 54EC also are to be had to the vendor.
Subscribe to get update and information. Don't worry, we won't send spam!