Buying property abroad with international credit cards may put you in regulatory crosshairs

Many Indians who purchased Dubai properties using international credit cards are now facing tax and enforcement issues. These transactions, intended for current account expenses, are being flagged as violations since property purchases require banking channels. Buyers are now seeking ways to rectify the situation, including using the Liberalised Remittance Scheme and requesting refunds to avoid penalties.

from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/lHU1A6I
via IFTTT

Comments

Post a Comment

Popular posts from this blog

India's Paytm Payments Bank granted status upgrade

Image
Paytm Payments Bank, a niche bank that cannot lend on its own, had more than 64 million savings accounts and over 52 billion Indian rupees ($688.5 million) deposits, including savings accounts, current accounts and fixed deposits with partner banks at the end of March this year. from Banking-Banking/Finance-Industry-Economic Times https://ift.tt/3pJr1JN via IFTTT
Read more