Acquisition and Transfer of Immovable Property outside India

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..... ) A person resident in India may acquire immovable property outside India, - (a) by way of gift or inheritance from a person referred to in sub-section (4) of Section 6 of the Act, or referred to in clause (b) of regulation 4; (b) by way of purchase out of foreign exchange held in Resident Foreign Currency (RFC) account maintained in accordance with the Foreign Exchange Management .....

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..... d vide Notification No. 155-RB-2007 dated 7/6/2007 , before it was read as Reserve Bank may, on an application made to it, permit a company incorporated in India having overseas offices, to acquire immovable property outside India for its business and for residential purpose of its staff, subject to such terms and conditions as may be considered necessary inserted vide Notification No. 103/200 .....

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