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- Interesting Info
Hi John !!!
and thanx for the interesting info ...
can u pls tell us smthng abt the rent procedures for the nris..
actually i ws wondrng if my aunt could rent out her flat in Ardee City in Gurgaon....they have settled abroad and was looking for renting out the place...
pls suggest ....CommentQuote0Flag
- Rental income for NRIs
Just came across your query. Your NRI aunt can definitely rent out her property in India. :)
Here are a few pointer regarding rental income for NRIs:
NRIs can freely rent out property, source of acquisition of property not significant.
Freely repatriate rental income without prior permission.
Tax deducted at source on rental income, freely adjust rental income against home loans.
If loan amount is higher, pay through NRE, NRO and FCNR accounts.
NRIs/PIOs can take the advantage of indexing the cost of acquisition and improvement, investing of sale proceeds in special Bonds
On deciding to sell the rental property the NRI can apply to the Income tax authorities for the certificate to be deducted at source.CommentQuote0Flag