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Repatriation of money to parents of an individual will not be liable to be taxed in India in the hands of the parents. This is because gifts made to relatives are not taxable as per the Income‐tax Act.
In the case of a non‐resident individual and a foreign company, the income which is received or is deemed to be received in India or income which accrues or arises or is deemed to accrue or arise in India, shall be liable to be taxed in India.
Yes, a resident individual can give rupee gifts to his visiting NRI/PIO close relatives by way of crossed cheque/electronic transfer within the overall limit prescribed under Liberalised Remittance Scheme for the resident individual and the gifted amount should be credited to the beneficiary’s NRO account.
Yes, under the general permission of RBI, a NRI/PIO can purchase the residential and commercial property except agricultural land / plantation property / farm house in India.
Yes, a Non‐Resident can become a shareholder or a director in an Indian Company.
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