My dad's sister purchased a property in gurgaon 6 years ago. She is a person of Indian orign residing in the US. Now, she did not have a pio card at the time of purchase however, she had applied for it and received it 3 months after purchasing property. Has she in any way broken any laws under FEMA or any other rules of RBI ? Would any penalty be imposed or would the transaction be considered void ?
Can someone please reply
Can someone please reply