00:00You have become NRI, or you have become settled in India.
00:04So, do you have to inherit your parents or grandparents' property in India?
00:11The answer is correct. Yes, you can do it.
00:15In NRI, you don't have to be inheritance rights in India.
00:20But you have to pay for your support, pay for tax, pay for foreign countries and pay for foreign countries.
00:27And this is the most confusion.
00:31First of all, let's look at the difference between NRI and Indian citizenship.
00:36NRI, that is such a British citizen or such a person,
00:41who is a resident from FEMI, who is a resident from France.
00:46That is, he has settled.
00:49NRI is a residential flat, commercial property, plot, ancestral house, agricultural land, farm house,
00:56and plantation property.
01:01Here, you can inherit such property,
01:05such as NRI can't normally buy.
01:09Now, understand the difference between ancestral and self-acquired property.
01:11So, you have to understand the difference between self-acquired property.
01:14Self-acquired property.
01:16The property that has earned its income,
01:19which has earned its income or its funds.
01:23If the property has a valid will,
01:26then the property will generally transfer from that will.
01:30But the ancestral property,
01:33which you have got from your family,
01:35from your family,
01:37from your parents,
01:38from your parents,
01:38from your parents,
01:39from your parents,
01:39from your parents,
01:40from your parents,
01:41is a little complex.
01:42Every family property is not legally ancestral.
01:46If the property is genuinely,
01:49or actually an ancestral nature,
01:52then some family members can have birthrights.
01:55That's why NRI should not depend on the family or oral promise.
02:00If you have said that this property is your property,
02:04then don't do anything on it.
02:07Title documents, family tree, old sale deeds, partition deeds,
02:12and will need to check the will.
02:15If there is a dispute,
02:16if there is a possibility,
02:17then the property lawyer's written title opinion is better.
02:21If there is a deceased person,
02:23or the person who is not in the world,
02:26has left their own will,
02:29then the original will,
02:30the real will will,
02:31death certificate,
02:33property title deal,
02:35encumbrance certificate,
02:36tax receipt,
02:38identity and address proof,
02:42you can apply for the mutation.
02:45Now, mutation means,
02:46property record,
02:48owner's name update.
02:50That means,
02:51if the property is your name in the will,
02:53then you will be able to update your name in it.
02:56But,
02:57focus on,
02:58mutation is not proof of ownership.
03:01Ownership,
03:02title documents,
03:04succession law,
03:06will,
03:06and will,
03:07court order.
03:08If there is no will,
03:11then,
03:11inter-state succession rules apply.
03:14That means,
03:15the deceased person,
03:16who is in the personal law,
03:18who is in the personal law,
03:20who is in the personal law,
03:22who is in the legal law,
03:24will be prepared.
03:25In the Hindu family,
03:26your husband or spouse,
03:28your partner,
03:29your children,
03:30and your mother,
03:32class 1,
03:33can come right.
03:36So,
03:36this means,
03:37if I live in the village,
03:39then,
03:39my part is wrong.
03:41But,
03:42this is also risk,
03:44that,
03:45I am only a legal lawyer.
03:46legal hire certificate,
03:48family tree,
03:49affidabit,
03:50other hires,
03:51NOC,
03:53succession certificate,
03:55letters of administration,
03:57or probate.
03:59Probate,
04:00i.e.
04:00court,
04:01will be valid.
04:03In every case,
04:04probate is not compulsory,
04:06but,
04:06contested will,
04:07high value property,
04:09unclear title,
04:10or,
04:10notified jurisdiction.
04:14If you have a brother,
04:16sibling,
04:17or,
04:17or,
04:18related objection,
04:19then,
04:20simple mutation,
04:21could be changed in court dispute.
04:23Now,
04:24in your mind,
04:25the question is,
04:25NRI,
04:26India,
04:27or,
04:27India,
04:28will process this?
04:29So,
04:30this can be given power of attorney,
04:33POA.
04:34If any trusted relative,
04:36lawyer,
04:36or professional,
04:38limited POA,
04:39blank,
04:40or unlimited POA,
04:41you will never give.
04:43POA,
04:43should be clear,
04:44that,
04:45you will collect documents,
04:46you will apply,
04:48you will apply,
04:48you will file a tax return,
04:50you will operate a bank account,
04:52or you will execute a sale deed.
04:54If POA is outside India,
04:57then,
04:58Indian embassy,
04:58or consulate,
05:01or notarization,
05:02and,
05:02you will need applicable stamp duty process.
05:06Original title papers,
05:08of course,
05:08you will have copies,
05:09and acknowledgements,
05:11and,
05:12also,
05:12verify.
05:15Now,
05:15the rule of agricultural land,
05:16is the most important,
05:18because,
05:19if you have an ancestral property,
05:21in bharat,
05:22there are more possibilities,
05:24that,
05:24that,
05:24that,
05:25that,
05:25that,
05:26there is a land,
05:27where,
05:27there is a land,
05:29where,
05:29agricultural land,
05:30here,
05:31this rule,
05:32is so important,
05:34NRI,
05:34agricultural land,
05:36plantation property,
05:37or farmhouse,
05:38normally purchase,
05:38not,
05:40but,
05:40inheritance,
05:41they can get such property,
05:43they can get such property,
05:44or,
05:44your father,
05:45or your father,
05:48agricultural land,
05:49if you have an agricultural land,
05:50then,
05:50NRI,
05:50can inherit it,
05:52and,
05:52they can get such property,
05:54but,
05:55such land,
05:56which,
05:56other NRI,
05:58or OCI,
05:59can not sell,
06:01after transfer,
06:03buyer,
06:04generally,
06:04resident Indian,
06:06and,
06:07state,
06:08land ceiling,
06:09tenancy,
06:10and,
06:11agricultural rule,
06:12can also apply,
06:14every state law,
06:15can be different,
06:16so,
06:17local rules,
06:17check,
06:19now,
06:19tax,
06:20property,
06:21inheritance,
06:23receipt,
06:23generally,
06:24tax,
06:25in India,
06:26inheritance tax,
06:27or estate duty,
06:28currently,
06:29applicable,
06:29property,
06:31transfer,
06:32normally,
06:33income tax,
06:34but,
06:35if,
06:35property,
06:35rent,
06:36also,
06:37rental income taxable,
06:39and,
06:40property,
06:41capital gains tax,
06:43also,
06:43inherited property,
06:45and,
06:46is a important point,
06:49that,
06:50holding period,
06:51only inheritance dates,
06:52not,
06:53not,
06:54the previous owner,
06:55or property,
06:57until,
06:57hold,
06:58the whole time,
07:00that,
07:00will be considered,
07:00will be considered,
07:01cost of acquisition,
07:03generally,
07:04previous owner,
07:05cost,
07:06will be linked,
07:07land,
07:07and building,
07:08transfer,
07:09current tax rules,
07:10long term,
07:11capital gains,
07:1212.5%,
07:16relevant,
07:16can,
07:17but,
07:18exact,
07:18tax property,
07:19acquisition date,
07:21holding period,
07:22cost records,
07:23exemption eligibility,
07:25and seller,
07:25tax status,
07:26depend,
07:27and,
07:27sales,
07:29or,
07:30NRI tax specialist,
07:31calculation,
07:32is necessary,
07:33after this,
07:34TDS,
07:35if the buyer,
07:36buying a property,
07:37then,
07:39the normal resident property,
07:40transaction,
07:41just 1% TDS,
07:43and,
07:43deal close,
07:44in the case,
07:47section 195,
07:48TDS rules,
07:49apply,
07:50sometimes,
07:51buyer,
07:51gross sale value,
07:52deduction,
07:53which,
07:54TDS,
07:55actual final tax liability,
07:56can be reduced,
07:58if the actual capital gains,
07:59is less,
08:00then,
08:00NRI,
08:01can apply,
08:03or,
08:04return file,
08:05and,
08:05refund claim,
08:06so,
08:08before the sale agreement,
08:09NRI status,
08:11PAN,
08:12TDS obligation,
08:13and payment process,
08:14clear,
08:15now,
08:16the big question,
08:17after buying property,
08:18how will you send,
08:18after buying property,
08:19how will you send,
08:19to you,
08:21inherited property,
08:23i.e.
08:23the sale proceeds,
08:25NRO accounts,
08:27credit,
08:28after applying,
08:29tax pay,
08:30and document,
08:31NRI,
08:33in a financial,
08:34year,
08:351 million,
08:36US dollars,
08:37remittance,
08:39inherited assets,
08:41can be covered,
08:42in this limit,
08:43bank inheritance proof,
08:45death certificate,
08:47well,
08:47succession documents,
08:49sale deed,
08:50tax payment of proof,
08:51PAN,
08:52NRO statement,
08:53form 15 CA,
08:54and generally,
08:55form 15C,
08:57can be asked,
08:58if amount,
08:591 million dollars,
09:00per financial year,
09:01so,
09:02RBI approval,
09:03can be asked,
09:04one thing,
09:05you can see,
09:06property,
09:07and pay,
09:08NRO accounts,
09:09doesn't mean,
09:11bank automatically,
09:12foreign accounts,
09:13will send,
09:14bank title,
09:15inheritance,
09:16rail,
09:16tax,
09:17payment,
09:18and remittance documents,
09:19compliance,
09:20check,
09:21this is why,
09:22after the last day,
09:22C.A.
09:23to involve,
09:24first,
09:24bank,
09:25NRI,
09:25desk,
09:26and CSA,
09:26document,
09:27checklist,
09:27if inherited property,
09:29rented,
09:30rented,
09:30rented,
09:34income,
09:34Indian,
09:37income,
09:37tax,
09:38return,
09:39DTA,
09:40double taxation,
09:41avoidance,
09:42agreement,
09:43resident country,
09:44India,
09:45paid tax,
09:45credit,
09:46claim,
09:47but,
09:48this country,
09:48and treaty,
09:50NRI,
09:51practical,
09:52checklist,
09:52what is,
09:52first,
09:54death certificate,
09:55well or succession papers,
09:57and family tree collect,
09:58then,
09:59original title deeds,
10:00encumbrance,
10:01certificate,
10:02tax receipts,
10:03land record,
10:04and mutation status,
10:06multiple hares,
10:08means,
10:08people who have more,
10:11have written consent,
10:13or partition agreement,
10:15limited power of attorney,
10:17only trusted person,
10:18property,
10:20residential,
10:20commercial,
10:21or agriculture,
10:22check,
10:24sales,
10:25valuation,
10:26capital gains,
10:27calculation,
10:28TDS planning,
10:29and repatriation documents,
10:30and if family,
10:32there is no oral settlement,
10:33then,
10:33return, registered,
10:35and legally weighted,
10:35document,
10:36convert,
10:37from NRI,
10:39you don't have to be inheritance rights,
10:41you can inherit in India,
10:45but ownership transfer,
10:47family rights,
10:48agricultural land restriction,
10:50tax,
10:50TDS,
10:51and foreign remittance,
10:52they all need to handle properly,
10:54a wrong assumption,
10:56family dispute,
10:57delayed sale,
10:58blocked payment,
10:59or unnecessary tax loss,
11:01so,
11:02not emotional asset,
11:05but a legal and financial project,
11:07handle it.
