nri sell inherited agricultural land, can nri sell farm land india, selling inherited khet nri
3 जवाब
Yes, an NRI can sell agricultural land that they inherited, but with an important condition: the buyer must be a person resident in India. An NRI cannot sell agricultural land to another NRI or to an OCI holder, only to a resident Indian. This keeps the land within the resident pool. Before selling, make sure the inheritance is fully done in the records, meaning mutation is complete and the title is clear in your name, otherwise the sale can get stuck. On the money side, the sale will attract capital gains tax in India, and there are rules about how much of the sale proceeds you can send abroad and through which account. Many NRIs handle the actual signing through a registered power of attorney given to a trusted relative, since flying down for registration is costly. Get the sale deed, the capital gains computation, and the repatriation done with a CA and lawyer, because mistakes here are expensive to fix later. This is general information, not legal or tax advice.
Confirming the buyer rule from experience. I had a great offer from another NRI for my inherited land in Kerala and my lawyer stopped the deal, said NRI to NRI sale of agri land is not allowed. Had to find a resident buyer instead.
Do your mutation first. I wasted four months because the land was still in my late father's name in the records and no buyer would touch it until it showed in my name.