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Questions/Answers Page
Three
 Information
provided is for general knowledge only and should not b
not be
deemed to be professional advice. For professional
advice kindly consult professional immigration advisors
or tax consultants depending on your personal situation.
This website is a one person operation, Please spell
check your questions as I normally just cut and paste
questions from emails. Answers to most questions asked
are usually posted within five days. Answers are posted
on this website and no personal emails are sent. |
Email questions to: V. K. Chand at:
question@nriinformation.com Answers are normally posted in three days.
Buying and Selling of Agricultural Land in India by NRIs
Q. Dear sir, I am an NRI currently
residing outside the country, I wish to buy agricultural land in
India for farming purpose. Is it possible. If yes then in which
states. And what are the formalities one has to fulfill with the
RBI.
Regds. Jeetu
A. NRIs are not allowed to buy agricultural
land in India.
Buying or Selling of agricultural land is a question that is
frequently asked my NRIs.
1. NRIs may acquire any immovable property in India other than
agricultural/plantation/farm house.
2. While NRIs are not allowed to buy agricultural property. I
believe there is no bar on acquiring agricultural land in India
by way of inheritance .
3. Agricultural land acquired by inheritance by an NRI can only
be sold to a resident in India. That is, you cannot sell to
another NRI.
4. Many State Governments in India also have their own laws
regarding sale and purchase of agricultural land. For example in
Maharashtra, even resident Indian citizens cannot purchase
agricultural land unless they can prove that they are farmers.
Business Visa for Qatar
Dear Mr.V.K.Chand,
Please answer my question given below, for
which I shall be much thankful to you :
I am an engineer, aged 62, having sound health, have got a good
job offer from a company in QATAR. They have mentioned in the
contract copy that they will send me to Bahrain after every 3
months to stay there for a day or 2 (to renew my VISA), and
return to Qatar to resume work. What type of visa is this ? Is
it allowed by the Government of Qatar ? Is my age not a problem
?
Await your reply
Thanks
S.Sankaran
A. Business visa for Qatar I believe is normally valid for 14
days and can be extended for another three months. I cannot say
how many times a business visa can be continuously extended for
three months periods as this is what your email appears to be
suggesting.
You need to clarify your concerns with the company offering you
the job. Your concerns are valid and your prospective employers
should give you clear answers to alleviate your fears before you
travel out of India.
I would assume that your employers are fully aware of your age
and are paying for all your transportation. I would avoid
employers who ask for cash guarantees and want prospective
employees to pay their own travel expenses. There are many scams
and unscrupulous agents around and one should be careful these
days.
Indian citizens, I believe can only obtain a visa for Qatar by
having either their family, friends or business contacts apply
for a visa on their behalf from the Ministry of Interior in
Qatar.
Here is a link to the Ministry of
Interior affairs, Qatar from where you may be able to verify
visa status and make further enquiries.
Pan Number Requirement for Nri Bank Accounts in India
Q. I am a NRI living in USA and I saw promotions by a couple of banks in India offering INR credit cards for NRIs secured against deposits.
I think that it(Indian Rupees credit card) will be very useful and convenient if and when my family makes trips to India, so I have sent in an application to one of these banks to open a fixed deposit.
But when I look at the application for credit card, I see that PAN number is mandatory, but when I call the bank, one bank officer said that PAN number is not required from NRIs applying for a credit card. But I must first open the account by sending the money & then send in application for the credit card pledging my deposit.
I don't have a PAN number & I don't want to convert my US$ to rupees to open an account if PAN number is required by all applicants & my application for credit card gets held up waiting for my PAN number.
Thanks
Dan Chawla
A. Your bank officer who advised you that a Pan number is not required from NRIs who apply for an Indian credit card is correct.
I have a Visa credit card from an Indian bank and did not have a Pan Number when I applied for and received the credit card last year.
Most banks will require that you have an account with them so that they have some kind of security that the credit card balance would be paid. My credit card is setup so that its balance is automatically paid from my NRI bank account in India.
When opening an account in India, I would advise you to select a NRE account and avoid NRO accounts. The money deposited in NRE accounts can be brought back to USA and secondly tax is withheld on NRO accounts and not on NRE accounts.
Pan Number requirement for NRIs
Q. I am a dual citizenship holder and needs
clarification on a issue for which I couldn't find answer in the
website. We are getting very good information from your website that to
without paying a penny which is really great. My question is, do I need
PAN # as required in India for all financial transactions like opening a
bank account, buying a property of a car, buying or selling shares or
mutual funds, applying for a bank loan, etc. If yes, then what and how
to get it. I will really appreciate your help. Hope to hear from you
soon with a favorable answer. With regards and thanks. Pushpa
A. As an NRI you do not need a Pan Number to open a bank account, buy
property or a car. However you do need a Pan Number when purchasing
stocks etc. To buy stocks and shares you need what is referred to as a 'demat'
account and you must have a Pan Number to open a demat account.
Information on applying for a Pan card is given
here. Many financial institutions who you bank with in India will
also help you get your Pan Number. Axis Bank with whom I have an NRI
account helped me get mine without a service charge. All I had to do was
sign the required form, give them a photograph and pay the fee of Rupees
67.
Visa for
Green Card Holder
Q. I m green card holder & I have Indian Passport. Now I have a question
I want to go to India in Jan 2009 so in this situation can I apply for a
visa of India. Bcz I m a new person in USA & I don't know Immigration
rules, regulation & legal formalities. Dhaval Patel
A. As you still have an Indian passport you are an Indian citizen. Hence
you do not need a visa to travel to India. A green card does not make
you a citizen of the United States but entitles the holder to live and
work there.
Non Repatriable Demat Account
Q. Dear sir, can a NRI give p.o. box address of foreign residence as permanent address for opening a non-repatriable demat account with dp registered with cdsl. hopeful of your kind help. with regards. yours truly, garib nath sah
A. To open an account with a DP you
would have to submit a photocopy of your PAN card along with proof of
your identity as well as proof of your address.
Proof of address with a P.O. Box address! may be difficult.
It may be straight forward to use your foreign address. Remember you
also have to execute an agreement on a stamp paper defining the rights
and obligations of you, as the investor and the DP
Readers comments & feedback. Post your comment or answer a question . .
.
George
2010/12/3 11:08 am
I am a NRE with green card and I have 2 properties in different
Districts in Kerala and 1 in Bangalore. My permanent address in PP is in
Kerala. Which AO code I should use if I am applying for a PAN Card
Shah
2010/12/8 6:48 am
Those who are unaware about the AO Code applicable to them, may select
default AO Code(DLC-C-35-1)
For example: Area Code DLC - AO Type C - Range Code 35 - AO Number 1
Check question answer page on this website on page 30.
Harkirat Dhillon
2011/1/7 10:00 am
Dear Sir,
I am australian citizen OCI card holder. Can i still own my ancestral
agricultural land after my parents. And can i live forever in india on
my OCI card? Please advice..
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