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All you wanted to about the inheritance law

A non-resident Indian or a person of Indian origin can inherit any immovable property in India. However, the rules for inheritance are quite complex for the Indians who are living abroad when it is not the same for the residents of India. As per the inheritance law in India, the heirs include all those people who are legally eligible to inherit property.

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All you wanted to about the inheritance law

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  1. All you wanted to about the inheritance law in India for NRIs A non-resident Indian or a person of Indian origin can inherit any immovable property in India. However, the rules for inheritance are quite complex for the Indians who are living abroad when it is not the same for the residents of India. As per the inheritance law in India, the heirs include all those people who are legally eligible to inherit property.

  2. NRIs and PIOs can inherit assets in India • An NRI is permitted to inherit any immovable property in India. • The transfer of ownership to NRIs and PIOs should be in accordance with FEMA. • If the property is inherited by a citizen of a foreign state who is a resident outside India, take RBI approval. • Inheritance will be through a will or intestate. • For intestate, a succession certificate should be produced.

  3. Foreign Exchange Management Act (FEMA) is the inheritance law in India • No tax implication for the inherited property by NRIs as per the inheritance law for NRI in India. • NRIs can sell inherited property to an Indian resident without any permission from the RBI. • The NRI should know the restrictions on the repatriation of sale proceeds of inherited property.

  4. Here are some important points for NRIs to remember • no taxes are imposed on an NRI when they receive an inherited property from someone. • Get help from a lawyer and CA for transferring the title. • Collect and keep the documents like the registered will, purchased deed and registration documents, E • Sell the inherited property according to FEMA.

  5. Some NRIs want to invest in the country • RBI introduced the automatic route and simplified the cumbersome paperwork. • RBI approval is not required for investing in India. For More Info Visit :https://timesproperty.com/news/post/inheritance-law-in-india-for-nris-blid488

  6. We have seen how the inheritance law in India applies to inherited property in the case of NRIs.

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