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January 2015

A. P. (DIR Series) Circular No. 38 dated 20th November, 2014

By Gaurang Gandhi Chartered Accountant
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Notification No. FEMA.321/2014-RB dated 26th September, 2014 Acquisition/Transfer of Immovable property – Payment of taxes

This circular clarifies that all transactions involving acquisition of immovable property in India by NRI/PIO/Non- Residents are subject to the applicable tax laws in India.

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