🏠 Buying Dubai Homes on Credit Cards Makes🇮🇳 Indians Face Trouble in RBI & Tax Headaches Ahead
Some Indians thought they’d hacked the system by swiping credit cards for Dubai property deals. No paperwork, no banks—just quick links from UAE builders. But now, they’re facing tax and legal fireballs.
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ICCs (International Credit Cards) are not allowed for buying foreign property—only for services like travel or shopping
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20% TCS applies on overseas property buys—even if paid by card
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Buyers are now begging for refunds and paying again via RBI’s LRS scheme
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Many might need to “compound” the error legally with the RBI
👉 Why this matters: If you’re planning to invest abroad, like in Dubai homes, read the fine print—or risk getting grilled by the tax department.
🔗 Source: India Today
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