Q540. Is 10 year lock-in period from date of buying property still valid before such

Q662. RBI rule on Lock-in period to sell property for repatriation removed

Question: Dear Sir,

I have a question regarding repatriation of funds after selling a non-inherited property by an NRI which was bought using rupee

funds.

Does the 10 year lock-in period from date of buying property still valid before money can be repatriated?

I think RBI website does not mention this lock-in as per latest notification.

Please advise.

thanks

Robert Goveas

Answer: The 10 year lock-in period rule has been removed. Now up-to one million dollars can be repatriated subject to payment of taxes and certification from a CA. A sample of the RBI notification is available by clicking HERE