In terms of the provisions of the Foreign Exchange Management Act, of 1999, Mr. SAM is a person of Indian origin and resident outside India. He wants to acquire some immovable properties in India not agricultural property, plantations, or a farmhouse.
Referring to the provisions of the Foreign Exchange Management Act, 1999, state the permitted sources, means, and restrictions imposed in this regard,
Also, state the provisions where the acquisition will be in the form of a gift or inheritance by Mr. SAM.