Hello Srikant,
I am planning to buy a house in hyderabad. I have an active NRE account with some funds in it. Can I make 100% payment from the NRE account if i don't wish to take loan? All the funds available in NRE are legal income and taxed per US taxation laws. Please note that this house will not be used for rental income. Buying this for self.
1 Answers
Hi,
Investing from NRE account is not at all an issue. In fact, it is for the better, as investment from NRE can help you re-repatriate (if required) the proceeds of sale outside India. Note that this benefit, in case of residential properties, is only upto 2 properties.
Suggest you to kindly consult a CPA/CA .
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Thank you Sreekanth.
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