Q.1271 British citizen inheriting

or being gifted a home in India

Question: Hi there I came across this link while trying to research the matter https://nriinformation.com/faq_two/faq_page1 07.htm My understanding is that I can only be the legal owner of a non movable property in Goa if im gifted it or inherit it from an resident indian? My question if this is correct is , Can a friend of mine a goan resident and work colleague, buy a house in India (Id help him with finances to do so) and then gift it to me , even if that took some time bvefore he can legally do so? And if so what if any time frame would there need to be between him buying the house and being legally able to gift it to me ? And am I correct in thinking that there would be no inheritance tax or other taxes for me to pay upon being gifted the house? Is there any taxation due to be paid by a British citizen who owns a home in Goa? If so roughly how much should I expect this to come to ? Quite a lot to ask but desperate to get accurate information and you seem most informed person to ask so please do take time to let me know . Greatly appreciate your help Thank you Answer: Government of India does not accept gifting between two non-relatives. Acceptable relatives are family members such as your spouse, brother, sister of self and spouse, parents or parents in law. So from a legal point of view, you could help your Indian resident friend in Goa buy the property in his/her name by sending money as there is no restriction in sending money to India. However, your friend’s will not be able to gift that property to you during their lifetime. While gift of immoveable property in India must be between relatives under the tax structure, there is no such restriction when it comes to inheritance. A person can will his property to anyone in the world! Foreigners can inherit property in India but they cannot acquire property by way of a gift. This is the law. Taxes on real estate transactions are normally referred to as Stamp duty in India. On gifts stamp duty is applicable if the value of the gift exceeds Rs. 50,000. The rate of stamp duty would depend on the state where the gifted property is located. For the benefit of readers of this page, a gift of property, once completed, is binding on the donor unless the property was gifted under fraud or undue influence.