NRI property and tax glossary
Every term an NRI landlord, seller, or heir meets in India, defined in plain English, A to Z. This is the dictionary for the acronyms, form numbers, deed names, and tax sections that show up when you own, let, sell, or inherit Indian property from abroad. It runs to more than 100 entries. Use the A-Z bar to jump to a letter, then jump back to the top.
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54EC bonds · 60-day rule · 120-day rule · 182-day rule · 730-day test
54EC bonds (capital gains exemption bonds)
Bonds issued by NHAI, REC, PFC, or IRFC that qualify for the Section 54EC exemption. Invest long-term capital gains from land or building in them within six months of the sale, up to a cap of Rs 50 lakh. They carry a five-year lock-in and a fixed interest rate.
60-day rule (residency limb)
The second residency test: a person who stays 60 days or more in India in a financial year and 365 days or more across the four preceding years is a resident. For most Indian citizens and PIOs who leave for work or visit from abroad, this 60-day limb is relaxed to 182 days.
120-day rule (residency limb)
Since FY 2020-21, an Indian citizen or PIO with Indian income above Rs 15 lakh in a year becomes a resident if they stay 120 days or more (and 365 days or more over the prior four years). Such a person is treated as RNOR, not a full resident.
182-day rule (primary residency test)
The core test of tax residence: 182 days or more of physical presence in India in a financial year makes you a resident for that year. Fewer than 182 days, subject to the 60-day and 120-day limbs, keeps you a non-resident.
730-day test (RNOR condition)
One of the two conditions that keep a returning resident in RNOR status: presence in India of 729 days or less across the seven previous years. Meet it (or the nine-out-of-ten-years condition) and your foreign income stays outside the Indian tax net for that year.
A
Aadhaar · Adverse possession · Agricultural land restriction · AIS · Apostille · Assessment year · Authorised Dealer bank
Aadhaar (12-digit identity number)
India's biometric identity number issued by UIDAI. NRIs are not required to hold one, and PAN-Aadhaar linking does not apply to non-residents. Some property and banking processes ask for it, but an NRI can transact on PAN and passport.
Adverse possession
A legal doctrine under which a person in open, continuous, hostile possession of property for 12 years (30 years against the government) can claim title against the true owner. It is a live risk for absentee NRI owners whose property sits occupied and unmonitored.
Agricultural land restriction
Under FEMA, an NRI or OCI cannot buy agricultural land, plantation property, or a farmhouse in India. They may inherit such land, or receive it as a gift from a resident relative, but cannot purchase it.
AIS (Annual Information Statement)
A comprehensive statement in the income-tax portal that records your financial footprint: TDS, interest, dividends, property transactions, and more. Reconcile your return against it, because the department cross-checks the same data.
Apostille
A single-step legalisation of a document for use across countries that are party to the Hague Apostille Convention. An NRI in an Apostille country can get a power of attorney apostilled instead of going through full consular attestation.
Assessment year
The year in which income of the previous year is taxed and assessed. It runs 1 April to 31 March and follows the previous year: income earned in FY 2024-25 is taxed in assessment year 2025-26.
Authorised Dealer bank
A bank licensed by the RBI to deal in foreign exchange and handle FEMA transactions. Your AD bank is the gatekeeper for repatriating sale proceeds, certifying Form 15CB routing, and remitting funds abroad from an NRO account.
B
Benami (property held in another's name)
A benami transaction is property bought in one person's name while another provides the money and holds the real interest. The Benami Transactions (Prohibition) Act bans it and allows confiscation. NRIs must ensure the buyer of record is the true source of funds.
C
Capital gains · Capital Gains Account Scheme · Circle rate · Class I heir · Completion Certificate · Consular attestation · Conveyance deed · Cost Inflation Index · Cost of acquisition · Cost of improvement
Capital gains
The profit on the sale of a capital asset such as property: sale price minus cost and allowable expenses. For NRIs it is taxed in India and split into short-term and long-term, which carry different rates.
Capital Gains Account Scheme (CGAS)
A scheme that lets you park unused capital gains in a designated bank account before the return due date, so you keep the Section 54 or 54F exemption while you look for a new property. Withdraw and reinvest within the statutory window or the parked amount becomes taxable.
Circle rate (ready reckoner / guidance value)
The government-notified minimum value of property in an area, used to compute stamp duty. Called circle rate in the north, ready reckoner rate in Maharashtra, and guidance value in Karnataka. If your sale price is below it, Section 50C can tax you on the circle rate instead.
Class I heir
Under the Hindu Succession Act, the closest heirs who inherit first and equally when a Hindu male dies intestate: widow, children, mother, and specified others. Class I heirs exclude all lower classes from inheriting.
Completion Certificate
A certificate from the local authority confirming a building was constructed per the sanctioned plan and building rules. It is a precondition for the Occupancy Certificate and for lawful possession.
Consular attestation
Legalisation of a document at the Indian embassy or consulate for countries not part of the Apostille Convention. An NRI signs a power of attorney before the consulate, which attests it for use in India.
Conveyance deed
The registered document that transfers ownership of property from one party to another. A sale deed is the most common conveyance deed. In housing societies, "deemed conveyance" transfers land title from the builder to the society.
Cost Inflation Index (CII)
An annual index notified by the government to adjust an asset's cost for inflation when computing indexed long-term capital gains. Its role narrowed after 23 July 2024, when most property gains moved to a 12.5% rate without indexation.
Cost of acquisition
What you paid to acquire the property, including stamp duty and registration. For inherited property, the cost is what the previous owner paid, and their holding period carries over to you.
Cost of improvement
Capital spending that adds to the property after purchase, such as an extension or major structural work. It is added to the cost base and reduces the capital gain. Routine repairs and maintenance do not count.
D
Deemed residency
A rule since FY 2020-21: an Indian citizen with Indian income above Rs 15 lakh who is not liable to tax in any other country is deemed a resident of India. A deemed resident is treated as RNOR, so only Indian income and India-linked income is taxed.
DTAA (Double Taxation Avoidance Agreement)
A treaty between India and another country that stops the same income being taxed twice. It can cap TDS rates, assign taxing rights, and let you claim credit. To use it, an NRI needs a Tax Residency Certificate and Form 10F.
E
Encumbrance Certificate · Executor
Encumbrance Certificate (EC)
A record from the sub-registrar showing all registered transactions on a property over a period: sales, mortgages, and charges. A clean EC confirms the title is free of loans or liens before you buy.
Executor
The person named in a will to carry out its terms: collect assets, pay debts, and distribute to beneficiaries. Where probate applies, the executor is the one who applies for it.
F
FCNR(B) account · FEMA · FEMA Non-Debt Instruments Rules · FMV on 1 April 2001 · Foreign Tax Credit · Form 10F · Form 13 · Form 15CA · Form 15CB · Form 16A · Form 26AS · Form 26QB · Form 27Q · Form 67 · Form 145 · Form 146 · Full value of consideration
FCNR(B) account (Foreign Currency Non-Resident Bank)
A term deposit an NRI holds in a foreign currency such as USD, GBP, or EUR, so there is no rupee exchange risk. Both principal and interest are fully repatriable and the interest is exempt from Indian tax while you are non-resident.
FEMA (Foreign Exchange Management Act, 1999)
The law that governs foreign exchange and cross-border transactions in India, including what an NRI may buy, hold, and repatriate. Property rules for NRIs sit under FEMA and its regulations, not the Income-tax Act.
FEMA Non-Debt Instruments Rules
The 2019 rules under FEMA that set out how non-residents may acquire and transfer non-debt assets, immovable property included. They define who can buy what, and the agricultural land bar for NRIs sits here.
FMV on 1 April 2001 (fair market value)
For property acquired before 1 April 2001, you may substitute its fair market value on that date for the actual cost when computing capital gains. A registered valuer's report supports the figure. It raises the cost base and lowers the taxable gain.
Foreign Tax Credit (FTC)
Credit for tax paid in one country against tax due on the same income in another, claimed under the DTAA. An NRI who pays Indian tax on rent or gains may claim FTC in the country of residence. Claiming FTC in India needs Form 67.
Form 10F
A declaration that supplies treaty-relevant details (name, status, country, tax ID, period) not fully covered by the TRC. It must be filed online on the income-tax portal and is required to claim DTAA benefits.
Form 13
The application an NRI files to the Assessing Officer under Section 197 for a lower or nil TDS deduction certificate. Approved before the sale, it stops excess tax being withheld on the full sale price.
Form 15CA
A declaration by the remitter filed online before funds are sent abroad, reporting the remittance and the tax deducted. It pairs with Form 15CB for most taxable foreign remittances, including repatriation of sale proceeds.
Form 15CB
A certificate from a chartered accountant confirming the nature of a foreign remittance and that the correct tax has been deducted. The AD bank needs it before releasing the remittance, and its details feed into Form 15CA.
Form 16A
The TDS certificate for income other than salary, issued by the deductor. When a buyer deducts tax on your property sale, the Form 16A they give you is your proof of the TDS credit.
Form 26AS
An annual tax statement in the income-tax portal showing TDS credited against your PAN, advance tax, and refunds. Check that the buyer's TDS on your sale actually appears here before filing.
Form 26QB
The challan-cum-statement used to deposit TDS under Section 194-IA on the purchase of property from a resident. It does not apply when the seller is an NRI, where the buyer files Form 27Q instead.
Form 27Q
The quarterly TDS return a buyer files for tax deducted on payments to non-residents under Section 195, including the purchase of property from an NRI. The buyer needs a TAN to file it.
Form 67
The form filed to claim Foreign Tax Credit in India, listing foreign income and the tax paid abroad. It must be filed on or before the return due date for the credit to be allowed.
Form 145
The name reported for the remitter's declaration (today's Form 15CA) under the Income-tax Act 2025, for remittances on or after 1 April 2026. The renaming is cited by tax practitioners; confirm the final number against the enacted rules.
Form 146
The name reported for the chartered accountant's certificate (today's Form 15CB) under the Income-tax Act 2025, for remittances on or after 1 April 2026. Confirm the final number against the enacted rules.
Full value of consideration
The total amount received or receivable on transferring a capital asset, the starting figure in the capital gains computation. Under Section 50C, if it falls below the circle rate, the higher stamp-duty value is deemed the full value.
G
General POA · Gift deed · GST on commercial rent
General POA (GPA)
A power of attorney granting broad authority to act across many matters. NRIs use it with care, since a GPA cannot by itself transfer ownership and a narrow, specific POA is safer for a single transaction.
Gift deed
A registered deed transferring property without payment. Gifts of immovable property between specified relatives are exempt from income tax for the recipient. An NRI can gift or receive property within FEMA limits, but not agricultural land by purchase.
GST on commercial rent
Letting commercial property is a supply of service, and GST at 18% applies once the landlord's taxable turnover crosses the registration threshold, generally Rs 20 lakh. Residential letting to an unregistered person is exempt.
H
Health and Education cess · Hindu Succession Act · Holding period
Health and Education cess
A 4% levy charged on the income tax plus surcharge, funding health and education programmes. It sits on top of the capital gains tax an NRI pays on a sale.
Hindu Succession Act, 1956
The law governing intestate succession for Hindus, Buddhists, Jains, and Sikhs. It sets the classes of heirs and, since the 2005 amendment, gives daughters equal coparcenary rights in ancestral property.
Holding period
How long you owned the asset before selling, which decides short-term versus long-term. For immovable property, more than 24 months makes the gain long-term. For inherited property, the previous owner's holding period is added to yours.
I
Immovable property · Indexation · Indian Succession Act · Intestate succession
Immovable property
Land, buildings, and rights attached to them, as opposed to movable assets. FEMA sets what immovable property an NRI may buy, hold, and transfer, and the agricultural land bar applies within this category.
Indexation
Adjusting an asset's cost upward for inflation using the Cost Inflation Index, which reduces the taxable long-term gain. Its scope narrowed from 23 July 2024, when most property gains shifted to a flat 12.5% rate without indexation.
Indian Succession Act, 1925
The law governing wills and intestate succession for Christians, Parsis, and others not covered by personal law, and the framework for probate and letters of administration across communities.
Intestate succession
What happens when a person dies without a valid will: the estate passes by the applicable succession law, not by the deceased's wishes. For an NRI heir this usually means a succession certificate or legal heir certificate rather than probate.
K
Khata
A municipal record, common in Karnataka, that lists a property and its owner for tax purposes. An "A khata" property is fully compliant, while a "B khata" flags an irregularity. It is proof of civic record, not of title. BBMP now issues it digitally, and our e-khata guide for Bengaluru owners abroad covers the conversion.
KYC (Know Your Customer)
The identity verification banks and institutions run before opening accounts or processing transactions. NRIs complete KYC with passport, visa or residence proof, and PAN when opening NRO, NRE, or FCNR accounts.
L
Legal Heir Certificate · Lower Deduction Certificate · LRS · LTCG
Legal Heir Certificate
A certificate from a local authority identifying the legal heirs of a deceased person, used for transferring utilities, pensions, and some assets. It is lighter than a succession certificate and does not settle disputes over title.
Lower Deduction Certificate (LDC)
An order from the Assessing Officer under Section 197, obtained via Form 13, allowing tax to be deducted at a reduced or nil rate. NRIs sellers use it to avoid TDS on the whole sale price when the real gain is smaller.
LRS (Liberalised Remittance Scheme)
An RBI scheme letting a resident individual remit up to USD 250,000 per financial year abroad. It applies to residents, not NRIs. NRI repatriation of Indian assets runs under the separate USD 1 million route.
LTCG (Long-Term Capital Gain)
Gain on an asset held beyond the long-term threshold, over 24 months for immovable property. From 23 July 2024, LTCG on property is taxed at 12.5% without indexation, plus surcharge and cess.
M
Mother deed · Municipal taxes deduction · Mutation
Mother deed
The parent document that traces the origin of a property's title and every transfer since. Buyers and lenders study the mother deed to confirm an unbroken chain of ownership.
Municipal taxes deduction
Property tax paid to the local body during the year is deductible from the gross annual value of a let-out property before computing rental income, provided the owner actually paid it in that year.
Mutation
Updating the local revenue or municipal records to show the new owner after a sale, inheritance, or gift. It follows registration and matters for property tax and utilities. Mutation records possession, not title.
N
NRE account · NRI · NRO account · No-PE declaration · Nomination · Non-repatriable funds
NRE account (Non-Resident External)
A rupee account funded by foreign earnings remitted from abroad. Both principal and interest are fully repatriable and the interest is exempt from Indian tax. It is for money earned outside India, not Indian rental or sale income.
NRI (Non-Resident Indian)
An Indian citizen who does not meet the day-count tests for Indian tax residence in a financial year. Status is decided year by year, and the core test is fewer than 182 days in India, subject to the 60-day and 120-day limbs.
NRO account (Non-Resident Ordinary)
A rupee account for income arising in India, such as rent, dividends, or property sale proceeds. Balances are repatriable up to USD 1 million per financial year after tax, on Form 15CA and Form 15CB. Interest is taxable in India.
No-PE declaration
A statement by a non-resident that they have no permanent establishment in India, so business income is not taxed here under the DTAA. Payers often ask for it before applying a treaty rate.
Nomination
Naming a person to receive an asset such as a bank balance or society flat on the holder's death. A nominee is a custodian who receives the asset, not necessarily its owner. Title still passes by will or succession law.
Non-repatriable funds
Money that must stay within India and cannot be freely sent abroad, such as certain balances in an NRO account beyond the annual limit. Investments made on a non-repatriable basis return proceeds to an NRO account.
O
Occupancy Certificate (OC)
A certificate from the local authority confirming a building is complete, compliant, and fit to occupy. Buying a flat without an OC carries legal and utility-connection risk.
OCI (Overseas Citizen of India)
A lifelong visa and status for foreign citizens of Indian origin, granting most residency and property rights of an NRI. OCIs face the same FEMA property rules, including the bar on buying agricultural land.
P
PAN · Partition deed · Patta · Permanent Establishment · PIO · Power of Attorney · Previous year · Probate
PAN (Permanent Account Number)
The ten-character tax identity number issued by the Income-tax Department. An NRI needs a PAN to file returns, claim TDS credit, and complete a property sale. Without it, TDS is deducted at a higher rate.
Partition deed
A registered deed that divides jointly held or ancestral property among co-owners, giving each a separate, defined share. It converts a shared holding into individual titles.
Patta
A revenue record, common in Tamil Nadu and some other states, that records land ownership in government registers. Like khata, it evidences the revenue record rather than title itself.
Permanent Establishment (PE)
A fixed place of business through which a non-resident carries on business in India, a DTAA concept. If an NRI has a PE, related business income becomes taxable in India. Passive rent and capital gains are taxed under their own rules regardless.
PIO (Person of Indian Origin)
A foreign national with Indian ancestry. The separate PIO card scheme was merged into OCI in 2015, so PIO now describes origin for FEMA purposes, with property rights aligned to those of an NRI.
Power of Attorney (POA)
A document authorising someone in India to act for an NRI on defined matters such as executing a sale, dealing with a bank, or managing a tenant. For property it should be specific, registered or consularised, and drafted narrowly.
Previous year
The financial year in which income is earned, running 1 April to 31 March. It is taxed in the assessment year that follows. Previous year and financial year mean the same period.
Probate
A court order certifying a will's validity and the executor's authority. It was historically required for wills in the presidency towns of Mumbai, Kolkata, and Chennai. That mandatory requirement was removed by the Repealing and Amending Act, 2025, though heirs may still seek probate where a title needs court backing. Confirm the current scope before relying on it.
R
Registered POA · Registration charges · Relinquishment deed · Rental income · Repatriable funds · Repatriation · RERA · Resident · RFC account · RNOR · ROR
Registered POA
A power of attorney registered with the sub-registrar, which gives it stronger evidentiary weight and is required for POAs that deal with immovable property. NRIs abroad have theirs attested at the consulate or apostilled, then adjudicated in India.
Registration charges
The fee paid to register a property document with the sub-registrar, separate from stamp duty and often around 1% of value. Registration makes the transfer legally effective and part of the public record.
Relinquishment deed
A registered deed by which a co-owner gives up their share in jointly held property in favour of another co-owner. It is common among heirs consolidating an inherited property in one name.
Rental income
Income from letting property, taxed in India under "income from house property" whether the owner is resident or NRI. Tenants paying rent to an NRI must deduct TDS under Section 195 before remitting.
Repatriable funds
Money that can be freely sent abroad, such as NRE and FCNR balances, and NRO balances within the USD 1 million annual limit. Repatriable status depends on how the funds were sourced and the account they sit in.
Repatriation
Transferring funds from India to abroad within FEMA rules. For an NRI selling property, it means moving post-tax sale proceeds out of the NRO account, up to USD 1 million per financial year, on Form 15CA and Form 15CB.
RERA (Real Estate Regulation and Development Act, 2016)
The law that regulates real estate projects and agents, requiring registration, escrow of buyer funds, and disclosure. NRI buyers can check a project's RERA registration and pursue complaints through the state RERA authority.
Resident
A person who meets the day-count tests for Indian tax residence in a financial year. A full resident is taxed on worldwide income, unlike an NRI or RNOR who is taxed mainly on Indian income.
RFC account (Resident Foreign Currency)
An account a returning NRI opens to hold foreign currency earned while abroad, without converting to rupees. It lets you preserve foreign funds after you resume Indian residence.
RNOR (Resident but Not Ordinarily Resident)
A transitional status between non-resident and full resident. An RNOR pays no Indian tax on most foreign income. You usually qualify for up to three years after returning if you were non-resident in nine of the ten preceding years, or in India for 729 days or less in the seven preceding years.
ROR (Resident and Ordinarily Resident)
The full-resident status, taxed on worldwide income in India. A returning NRI becomes ROR once past the RNOR window and the day-count conditions are met.
S
Sale deed · Sanctioned plan · Section 24 interest deduction · Section 48 · Section 50C · Section 54 · Section 54EC · Section 54F · Section 112 · Section 194-IA · Section 194-IB · Section 195 · Section 197 · Section 244A · Share certificate · SNRR account · Society NOC · Special POA · Stamp duty · Standard deduction · STCG · Succession Certificate · Surcharge
Sale deed
The registered document that transfers ownership from seller to buyer against payment. It is the primary proof of title and is executed and registered at the sub-registrar's office.
Sanctioned plan
The building plan approved by the local authority, setting what may lawfully be built. Construction beyond the sanctioned plan is unauthorised and can block the Occupancy Certificate.
Section 24 interest deduction
The deduction for interest on a loan taken to buy, build, or repair house property. For a let-out property let the full interest is deductible against rent; for a self-occupied property the cap is Rs 2 lakh a year under the old regime.
Section 48
The section that sets out how capital gains are computed: sale consideration minus cost of acquisition, cost of improvement, and transfer expenses, with indexation where it still applies.
Section 50C (stamp duty value)
An anti-undervaluation rule: if a property sells below the circle rate, the stamp duty value is deemed the sale consideration for capital gains. A safe-harbour tolerance applies where the gap is small.
Section 54
An exemption that shelters long-term capital gain on a residential house if you reinvest the gain in another residential house in India, buying within two years or building within three. Unused gains can be parked in the Capital Gains Account Scheme.
Section 54EC
An exemption for long-term gain on land or building if reinvested in specified bonds (NHAI, REC, PFC, IRFC) within six months, capped at Rs 50 lakh, with a five-year lock-in.
Section 54F
An exemption for long-term gain on any asset other than a residential house, if the net sale proceeds are reinvested in one residential house in India. It requires reinvesting the whole consideration for the full exemption, and conditions on holding other houses apply.
Section 112
The charging section for long-term capital gains on assets such as property. Since 23 July 2024, it sets the LTCG rate at 12.5% without indexation for most cases.
Section 194-IA
Requires a buyer to deduct 1% TDS on the purchase of immovable property worth Rs 50 lakh or more from a resident seller. It does not apply when the seller is an NRI, where Section 195 governs instead.
Section 194-IB
Requires an individual or HUF not liable to tax audit to deduct TDS on rent above Rs 50,000 a month. The rate is 2% from 1 October 2024. Rent paid to an NRI landlord falls under Section 195, not this section.
Section 195
The core TDS section for payments to non-residents. A buyer of property from an NRI, or a tenant paying an NRI landlord, must deduct tax under Section 195 before paying, and needs a TAN and Form 27Q to do it.
Section 197
Lets a taxpayer apply, on Form 13, for a certificate to receive income after lower or nil TDS. NRIs selling property use it so tax is withheld on the actual gain, not the full sale price.
Section 244A
Provides interest on income-tax refunds for the delay in repayment. NRIs who suffer excess TDS on a sale and claim it back in their return receive this interest with the refund.
Share certificate
In a cooperative housing society, the certificate showing the flat owner's shares in the society. It is a key ownership document for a society flat and is transferred on sale with the society's involvement.
SNRR account (Special Non-Resident Rupee)
A non-interest-bearing rupee account for a non-resident with a specific business or transaction purpose in India. It is narrower than an NRO account and tied to the underlying transaction.
Society NOC
A no-objection certificate from the housing society confirming dues are clear and it has no objection to a sale or transfer. Buyers and registrars often ask for it before completing a society-flat transfer.
Special POA (SPA)
A power of attorney limited to a single, defined task such as executing one sale deed or handling one bank formality. For NRIs it is safer than a general POA because it grants only the authority needed.
Stamp duty
A state tax on property transfer documents, charged as a percentage of the higher of sale price or circle rate. Rates vary by state, and some offer a concession for women buyers. It is paid at registration.
Standard deduction (Section 24)
A flat 30% deduction on the net annual value of a let-out property, meant to cover repairs and upkeep, allowed regardless of actual spend. It applies to rental income for residents and NRIs alike.
STCG (Short-Term Capital Gain)
Gain on an asset held within the short-term threshold, 24 months or less for immovable property. It is added to total income and taxed at the applicable slab rate, which can be higher than the long-term rate.
Succession Certificate
A court-issued certificate authorising heirs to collect debts and securities of a person who died intestate. It establishes who may receive movable assets but does not by itself decide title to immovable property.
Surcharge
An extra levy on income tax for higher incomes, charged in slabs above set thresholds. On long-term capital gains the surcharge is capped at 15%. It applies before the health and education cess.
T
TAN · Tax year · TDS · Title deed · TRACES · TRC
TAN (Tax Deduction and Collection Account Number)
A number the person deducting TDS must hold to deposit tax and file returns. A buyer purchasing property from an NRI needs a TAN to deduct under Section 195 and file Form 27Q. Buyers from residents use PAN via Form 26QB instead.
Tax year
The 12-month period for which income is assessed. In India it runs 1 April to 31 March and is the same as the financial year and the previous year. Returning NRIs should note it differs from the calendar-year tax year of many other countries.
TDS (Tax Deducted at Source)
Tax withheld by the payer and deposited with the government on the payee's behalf. On payments to NRIs, TDS can be steep and is often on the gross amount, which is why a lower deduction certificate matters.
Title deed
The document that proves legal ownership of a property, typically the registered sale or conveyance deed. Verifying an unbroken chain of title deeds is the heart of due diligence.
TRACES (TDS Reconciliation Analysis and Correction Enabling System)
The Income-tax portal for TDS: deductors file and download certificates there, and taxpayers view TDS credited against their PAN. Form 16A and Form 26AS data flow through it.
TRC (Tax Residency Certificate)
A certificate from the country where an NRI is resident, proving tax residence there. It is required, with Form 10F, to claim DTAA benefits such as a reduced TDS rate on Indian income.
U
USD 1 million scheme
The RBI route that lets an NRI repatriate up to USD 1 million per financial year from an NRO account, covering property sale proceeds, rent, and other Indian income after tax. It runs on Form 15CA and Form 15CB through the AD bank.
W
Will
A legal declaration of how a person's estate should pass on death. A clear, registered will naming an executor is the simplest way for an NRI to pass on Indian property and to spare heirs an intestate succession process.