Hi I am a NRI and I would like to buy a land in India. What about tax on it? I guess I don't need to pay any tax. Also, shall I put my name or my mom who lives in India? If I have to put her name then is it taxable or quetionable by Inland Revenue?
RE:RE:Buying Land
by mayur gondhalekar on May 09, 2007 04:30 PM Permalink
there is no question of paying tax for buying a land in india.. only when u will sell it , tax liability will arise.. as far as ownership is concerned , your name or MOm's name will not make a difference. only thing is it will attract wealth tax ocne acquired. You need to check the details..
RE:Buying Land
by raj kumar on May 11, 2007 10:02 PM Permalink
it is because of u NRI people the real estate has gone up like anything in india. normal people are not able to afford land. if u people have left india and gone abroad in search of green pastures why dont you hang out there itself. why think of coming back or purchase land in india and in the process make poor in india poorer. above all, u people will behave as though u were born to foriegn parents when u come to india for a visit. if i had authority i will bring in a law where no NRI buys land in india.
RE:Buying Land
by SUVOBRATA GHOSH on May 13, 2007 03:17 PM Permalink
You are of a very sick mentality. Do you think all NRIs are earning millions??? Do you know that so many labours come to gulf to earn some money for their families back home. Their family depends on the sole income of such "NRI" They are not rich at all & they live in labour camps in a very bad condition just to save money for their family back home. What is the harm if they can buy a piece of land from the money they have earned from their hard work?Moreover the price level goes up in India due to high purchasing power of certain individuals living in India & not due to NRIs. PLease think before giving some idotic comments.
RE:RE:Buying Land
by raj kumar on May 14, 2007 02:26 PM Permalink
u may be right if u only take into account who do labour work in gulf. But, think of software engineers who are working in US and other european countries. They just dont mind paying watever price the real estate people tell them. they just want to invest and multiply their money. Even people employed in government services, working for their motherland is not able to buy a piece of land. I really feel their shd be some check on NRIs buying land. Do u really think when the NRIs dispose their land they pay tax????????????? Do they really behave like Indians in heart and soul????????? shame shame
RE:Buying Land
by atul puntambekar on May 12, 2007 07:00 PM Permalink
We too could not afford land when in India....So we went OUT. But we still are "Indians" by heart and soul. Aur India main property kharidne ki "khujli" hai humko....what is ur problem? Challenge your guts and earn money...don't cry...
RE:Buying Land
by raj kumar on May 14, 2007 02:11 PM Permalink
"indians" by heart and soul. This is just a face mask. If at all u r thrown out of the foreign country u can always have a chance to come back ........ how much did u donate to Tsunami victims????????
