Question 1

Does an NRI need a separate will for Indian and foreign assets?

Accepted Answer

Yes — recommended practice is to have a separate will for Indian assets and a separate will for each foreign jurisdiction where assets are held. A single worldwide will creates probate complications — courts in each country must validate it, and some jurisdictions require a locally executed will. The Indian will should be executed under the Indian Succession Act 1925 (for non-Hindus) or the applicable personal law.

Question 2

What is a Hindu Undivided Family and is it relevant for NRIs?

Accepted Answer

An HUF is a tax entity available to Hindu, Sikh, Buddhist, and Jain families — including NRIs of these communities. NRI members can be coparceners. On return, the HUF is a useful vehicle for segregating ancestral property income from personal income. However, NRIs cannot open HUF accounts — the HUF itself must be resident in India for the account to be NRO or savings. The HUF PAN can be obtained from India.

Question 3

Can an NRI repatriate inheritance received in India?

Accepted Answer

Yes — Section 6(5) of FEMA (Non-Resident) Regulations allows a person resident outside India to repatriate assets inherited from a person resident in India or a person resident outside India. Repatriation limit: USD 1 million per financial year, subject to applicable taxes paid. Requires Form 15CA/15CB certificate from a CA. Immovable property inheritance: can be held or sold; sale proceeds repatriable within the USD 1M limit.

Question 4

What succession law applies to an NRI's immovable property in India?

Accepted Answer

For immovable property in India, Indian law governs succession regardless of the NRI's domicile abroad. Hindu NRIs: Hindu Succession Act 1956. Muslim NRIs: personal law (Hanafi/Shafii school as applicable). Christian, Parsi, or other community NRIs: Indian Succession Act 1925. The NRI's foreign will can be admitted to probate in India but must comply with the local Indian succession law applicable to the community.

Question 5

What are the FEMA implications of NRI gifts of Indian assets?

Accepted Answer

An NRI can gift Indian assets to a resident close relative (as defined in Section 2(77) Companies Act) — exemption under Schedule III of FEMA (Non-Resident) Regulations. Gift to non-relative from NRO account is subject to LRS limit (USD 250,000/year). Gift to a non-resident: treated as remittance — requires RBI approval for amounts exceeding regulatory thresholds. The recipient, if resident, is taxable on gift value under Section 56(2)(x) if above ₹50,000 and from a non-relative.

Nri Succession Planning

Related Services

GST Registration

GST Returns Filing — GSTR-1, GSTR-3B

GST Compliance & Returns