Multiple Jurisdictions:
- Residence country laws
- Indian succession laws
- Potential conflicts
- Double taxation risks

Distance Issues:
- Cannot manage directly
- Rely on POA holders
- Property maintenance
- Tenant management

NRIs Typically Own:
□ Ancestral property
□ Purchased real estate
□ Bank accounts (NRE/NRO)
□ Fixed deposits
□ Mutual funds
□ Shares
□ PPF (old accounts)
□ Insurance policies
□ Business interests
□ Gold and jewelry

For Immovable Property:
- Indian law applies
- Where property is located
- Personal law (Hindu/Muslim/Christian)
- Residence abroad irrelevant

For Movable Property:
- Law of domicile may apply
- Complex determination
- May be residence country law
- Or India if Indian domicile retained

Hindu NRI:
- Hindu Succession Act
- Daughters have equal rights
- Will has freedom for self-acquired

Muslim NRI:
- Muslim Personal Law
- 1/3 testamentary limit
- Sharia inheritance rules

Christian/Parsi NRI:
- Indian Succession Act
- Full testamentary freedom

Option 1: Separate Indian Will
Pros:
- Specific to Indian assets
- Indian law compliance
- Easier administration
- No foreign probate issues

Cons:
- Multiple wills to manage
- Ensure consistency
- Avoid revocation issues

Option 2: Single Global Will
Pros:
- One document
- Comprehensive
- No conflicts

Cons:
- May need foreign probate in India
- Complex language needs
- Jurisdictional issues

Best Practice:
1. Separate will for India
2. Covers only Indian assets
3. Expressly doesn't revoke foreign will
4. Complies with Indian law
5. Indian executor appointed

Coordinate:
- Foreign will excludes Indian assets
- Both wills consistent
- No conflicting provisions

Options:

1. Execute in India:
   - Visit India
   - Sign before witnesses
   - Register if desired
   - Most straightforward

2. Execute Abroad:
   - Before Indian consulate
   - Or before local notary
   - Get apostille if applicable
   - Send to India for registration

For Validity:
- In writing
- Signed by testator
- Two witnesses (sign together)
- Testator and witnesses sign in presence of each other

Registration:
- Not mandatory
- But recommended
- Sub-Registrar office in India
- Can be done through POA

NRI Cannot:
- Be present for transactions
- Sign documents in person
- Attend court/offices
- Manage on ground

POA Holder Can:
- Manage property
- Collect rent
- File taxes
- Sell property (with specific POA)
- Handle legal matters

General POA:
- Broad management powers
- Day-to-day affairs
- Bank account operation
- Tax filings

Special POA:
- Specific transaction
- Property sale
- One-time use
- Expires after use

Process:
1. Draft POA document
2. Execute before Indian consulate/embassy
   OR
3. Execute before local notary
4. Get apostille (Hague Convention countries)
5. Send original to India
6. Adjudication for stamp duty (if needed)
7. Registration (for property POA)

Special Requirements:
- Specific to property
- Registered in India
- Both parties' photos
- Clear authority to sell
- Sub-Registrar where property located

Options:
1. POA Holder Manages:
   - Trusted family member
   - Collects rent
   - Pays taxes
   - Maintains property

2. Property Manager:
   - Professional service
   - Fee-based management
   - Regular reporting
   - Tenant handling

3. Leave Vacant:
   - Caretaker arrangement
   - Regular checks
   - Not income generating

Tax Implications:
- Taxable in India
- File Indian ITR
- TDS deducted (30% for NRI landlords)
- Can claim deductions
- May need to file in residence country

DTAA Benefit:
- Double Tax Avoidance Agreement
- Claim credit for Indian tax
- Avoid double taxation

Capital Gains:
- LTCG if held 2+ years
- STCG if less than 2 years
- Indexation benefit for LTCG
- 20% tax on LTCG

TDS:
- Buyer deducts 20%+ (LTCG)
- 30%+ (STCG)
- Can claim refund if actual tax lower
- Lower TDS certificate possible

Repatriation:
- Up to $1 million per year
- From NRO account
- CA certificate required
- Form 15CA/15CB

NRE Account:
- Fully repatriable
- Tax-free interest in India
- Foreign income deposited
- For overseas earnings

NRO Account:
- Indian income deposited
- Rent, dividends, etc.
- Limited repatriation
- Interest taxable

Must Update:
□ NRE account nominations
□ NRO account nominations
□ FD nominations
□ Demat account nominations

Process:
- Bank forms
- Can be done online (some banks)
- Or through POA

NRI Investment:
- Can hold most MFs
- Some restrictions (US/Canada residents)
- Demat account needed
- Nomination important

On Death:
- Nominee claims
- Or legal heir with certificate
- Transmission process
- May need to repatriate

Taxable in India:
- Rental income
- Capital gains on Indian assets
- Interest from NRO/savings
- Indian business income
- Any income from India

Tax Filing:
- If income exceeds ₹2.5 lakhs
- By July 31 (unless extension)
- Can file from abroad
- Digital signature or verification

DTAA Benefits:
- India has DTAAs with many countries
- Avoid paying tax twice
- Claim credit in residence country
- Or vice versa
- Review specific DTAA provisions

India:
- Currently no estate tax
- May be reintroduced
- Plan for possibility

Residence Country:
- May have inheritance tax
- India assets may be included
- Understand local laws
- Plan accordingly

What Can Be Inherited:
- Immovable property: Yes
- Agricultural land: Usually no
- Bank balances: Yes
- Investments: Yes

Process:
1. Obtain death certificate
2. Obtain legal heir certificate/probate
3. Claim assets (bank, registrar, etc.)
4. Convert to NRO account
5. Repatriate if desired (with limits)

Limits:
- Up to $1 million per financial year
- From NRO account
- CA certificate required (15CB)
- Form 15CA filing
- Bank verification

Proceeds from:
- Property sale
- Inherited investments
- Accumulated balances

Immediate:
□ Create Indian will
□ Create/update POA
□ Update all nominations
□ Document all assets
□ Inform family of assets

Annual:
□ Review asset list
□ Check POA validity
□ Ensure taxes filed
□ Review tenancy agreements
□ Check property condition

Create Inventory:
For Each Asset:
- Description
- Location
- Documents
- Value (approximate)
- Beneficiary intention
- POA holder (if any)

Have Contacts For:
- Property POA holder
- Lawyer
- Chartered Accountant
- Property manager
- Bank relationship manager
- Family members

Considerations:
- Joint family property rules
- Coparcenary rights
- Cannot sell without consent
- Partition may be needed
- Complex if multiple generations

Restrictions:
- NRIs generally cannot buy
- Can inherit
- May need to sell
- State-specific rules
- FEMA compliance

If NRI Owns Indian Business:
- Succession planning essential
- Professional management
- Family involvement
- Buy-sell agreements
- Valuation important

Challenges:
- All living abroad
- Management difficulties
- Different countries
- Coordination issues

Solutions:
- Single POA holder
- Property management company
- Consider selling and investing
- One sibling takes over

Problem:
Relying only on foreign will

Risk:
- Foreign probate in India
- Delays and costs
- May not comply with Indian law

Solution:
Separate Indian will for Indian assets

Problem:
POA from years ago, never updated

Risk:
- POA holder may not be suitable
- May have died/moved
- Documents may be challenged

Solution:
Review and update POA every few years

Problem:
Not filing Indian tax returns

Risk:
- Penalties and interest
- Problems selling property
- Legal issues for heirs

Solution:
Annual ITR filing for Indian income

Problem:
Property papers not organized

Risk:
- Heirs don't know what exists
- Can't prove ownership
- Disputes arise

Solution:
Complete documentation, stored safely

In India:
- Lawyer (estate planning)
- Chartered Accountant (tax)
- Property manager (if rental)
- Bank RM

In Residence Country:
- Estate planning attorney
- Tax advisor (cross-border)
- Financial planner

Consult Professionals For:
- Will drafting
- POA creation
- Property transactions
- Tax optimization
- Complex family situations
- Business succession