427. Non Indian Citizen can

inherit agricultural land in

India

Questions: HiI am Nilesh Patel, I have acquired Australian citizenship in 2012 and willing to acquire OCI(overseas citizenship of india). I am indian origin and i was born in india.my parents are india citizen and they own agricultural land in india. Can I please request to answer my following question? Can a non Indian Citizen (me) inherit agricultural land from his/her parents ? Answer: Inheriting property in India is a question many Nri's and former Indian citizens now settled abroad have questions about. Regards to your question, yes! a non Indian citizen such as you, can inherit agricultural land in India from his/her parents. Some questions related to inheriting property in India have already been answered in the previous pages. For those who are reading this page and may have missed the information previously posted, here is some information regarding inheriting property in India.

Who can inherit property in India

Non Resident Indian Citizens, Former Indian Citizens who now hold foreign citizenship can all inherit immovable property in India. There is also no restriction on the type of property that can be inherited. Inherited property can be residential, commercial, agricultural or even plantation and farm land. Furthermore, once inherited, such property need not be sold and can be kept if desired. Citizen's of the following countries need prior approval from the RBI for inheriting immovable property in India: • Pakistan • Bangladesh • Sri Lanka • Afghanistan • China • Iran • Nepal • Bhutan

Selling inherited property located

in India

While those inheriting property in India are under no obligation to sell the inherited property, there are some rules that apply if and when they wish to sell their inherited properties. 1. Nri's can sell their inherited properties to any person resident in India or to a Person of Indian Origin. 2. Foreign nationals who are of Indian origin, must sell their inherited properties to a person resident in India or another NRI. Please note: a NRI refers to a person who is a Indian citizen but residing overseas. Person of Indian origin (PIO) refers to former Indian nationals who have acquired foreign citizenship. 3. In case a Person of Indian origin wants to sell their property to another PIO, they need to get prior approval from the Reserve Bank of India is required. 4. Foreign nationals of non-Indian origin, citizens of Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal or Bhutan can sell their property in India with prior approval of the Reserve Bank. There is also a condition that they sell their properties only to either a person resident in India, an NRI or a PIO. Regardless of what the status of a person is, properties such as agricultural land, plantation land or farm house, can only be sold to a person resident in India, who is also a citizen of India.

Sending money received from the

sale of property in India abroad

Money received by NRIs and PIO can be transfered out of India by following the rules set for this purpose. Basically the rules are: • The amount being transfered abroad cannot exceed USD 1 million per financial year • The NRI/PIO must produce documentary evidence in support of the inheritance and provide an undertaking and certificate by a Chartered Accountant in the formats specified by the Indian Tax Department.