Q566. Indian residents having imported cars without spending 2 years abroad
Question: to whom it may concern, i would like to know that how the indian resident have brand new imported cars even they never live for a 2 years period in abroad? could u plz rty to explain. thnx Sarb Gill Answer: Don’t quite understand your question however, not all new imported cars in India belong to NRIs. Anyone in India who has the money, can buy any car on the market they like. They can buy imported cars from dealers as well as those NRIs who take transfer of residency and import a car. Previously there was a time restriction on those who imported cars under transfer of residency and they could not immediately sell their imported car. This type of restriction no longer exists and cars imported under transfer of residency can be sold by the importer when ever they wish. I am sure many Indian residents who have never traveled abroad may own imported cars because they have the money!
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Q566. Indian residents having
imported cars without spending 2
years abroad
Question: to whom it may concern, i would like to know that how the indian resident have brand new imported cars even they never live for a 2 years period in abroad? could u plz rty to explain. thnx Sarb Gill Answer: Don’t quite understand your question however, not all new imported cars in India belong to NRIs. Anyone in India who has the money, can buy any car on the market they like. They can buy imported cars from dealers as well as those NRIs who take transfer of residency and import a car. Previously there was a time restriction on those who imported cars under transfer of residency and they could not immediately sell their imported car. This type of restriction no longer exists and cars imported under transfer of residency can be sold by the importer when ever they wish. I am sure many Indian residents who have never traveled abroad may own imported cars because they have the money!
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