Can non-residents borrow from relatives and deposit in an NRO account without proof of funds?
Non-resident Indians and persons of Indian Origin (POI) can buy residential properties in India without specific permissions from the Reserve Bank of India
I have been a non-resident for the last ten years. I am buying a property in India for investment purposes. I have an NRO account in India. Can I borrow from my relatives and deposit the same in my NRO account? Is it necessary to show proof of the source of the funds I am getting from relatives to NRO? Are there any tax regulations I need to comply with?