Individuals of Indian origin living abroad must have PIO/OCI card. Choosing the right card grants specific benefits and allows you to stay connected to your roots.

PIO Card:

Eligibility: This card is issued to those who once held an Indian passport or have parents/grandparents who were Indian citizens by birth or naturalization (excluding those from Pakistan, Bangladesh, Sri Lanka, Afghanistan, China, Iran, Nepal, or Bhutan).

Benefits: PIO cardholders enjoy visa-free entry for 15 years, exemption from police registration for any length of stay, and parity with NRIs in economic, financial, and education fields (except agricultural property purchase).

OCI Card:

Eligibility: This card caters to a wider range of individuals:

1. Citizens of other countries who were Indian citizens on or after January 26, 1950, or were eligible to become citizens then.
2. Citizens of other countries who belong to territories that became part of India after August 15, 1947.
3. Children of Indian citizens.

Benefits: OCI cardholders have multi-entry, lifelong visas, exemption from police registration, parity with NRIs in many economic, financial, and educational fields (excluding agricultural property purchase), and the right to work in India for up to one year without a separate work permit (conditions apply).

The acquisition of property does not attract income tax. But, any income that is accrued from the ownership of the house, in the form of rent (if it is tenanted), or the annual value of the house (if it is not tenanted and it is not the only residential property owned by that person in India) and / or capital gains (short-term or long-term) arising from the sale of the house or part thereof is taxable in the hands of the owner.

Our well-defined and transparent contracts guarantee clarity and security. Our dedicated team is always available to address your concerns at your convenience.

Since general permission is not available for this purpose, an NRI / PIO would require specific approval from the Reserve Bank of India and such an approval would be granted only after considering the proposal in consultation with the Government of India.

Besides the property price, expect taxes, registration fees, and potential maintenance charges. We can provide detailed estimates based on your chosen property.

Acquiring a property in India is tax-free but earning income or selling it later leads to tax implications. Here's a quick breakdown:

Taxes on Rental Income: Renting out your property generates taxable income added to your overall taxable income in India. The tax rate depends on your tax bracket.

Taxes on Unoccupied Property: Even if unused, you’ve to pay the tax. You'll pay tax on its "deemed rental income" (calculated based on a fixed percentage of property value).

Taxes on Selling:

1. Capital Gains: Selling your property for a profit (selling price minus purchase price and expenses) triggers capital gains tax. The applicable tax rate depends on how long you held the property:
2. Short-term gains (less than 36 months): Taxed at your income tax bracket rate.
3. Long-term gains (held 36 months or more): Taxed at 20% with potential indexation benefits to reduce taxable gains.

Yes, appointing a Power of Attorney representative allows remote management.