Indians Can Get Rs 10 Lakh Fine If Foreign Properties Are Not Disclosed

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2 weeks ago

Indian residents acquiring property abroad must follow strict compliance rules under FEMA and the Income-Tax Act. When buying property overseas, funds are often remitted through the Liberalised Remittance Scheme (LRS), allowing residents to send up to $250,000 annually for legitimate purposes, including real estate. Tax expert Shefali Mudra explains, “Under LRS, all resident individuals, including […]

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