here's a more comprehensive overview, courtesy of TFLer anand.
http://www.thefiringline.com:8080/forums/showthread.php?threadid=33618
A BRIEF SUMMARY OF FIREARM LAWS IN INDIA
1.A citizen is allowed upto three firearms or less on a license, renewable every three years after the initial one year probationary period.
2.No more than 100 rounds of ammunition can be purchsed in any calender year for self defense,& No more than 50 rounds can be possessed at one time with regard to handguns and Rifles.
3.For Shotguns the limit is 450 rounds per year and 100 at one time.
4.One cannot own more than one firearm of the same type.(No two revolvers etc.)
5.Non-prohibited calibers include,.380 .32,
.30luger,.25Auto,.22. Of these only .32 S&W short & Long, and .22LR are made in India.
6.Prohibited calibers include all military calibers and licensing is avilable from the Ministry of Home Affairs.
7.No provision for Full-Auto.(Illegal)
8.Weapons cannot be carried into Religious
gatherings, fairs or into the Assembly Hall or Secratariat(akin to State Capitol) or Airports.
8. During election time all weapons are to be deposited at the police station having jurisdiction over one's residence.
9.Importation of weapons & ammunition has been banned since 1984. Only legal method of importation is on a transfer of residence back to India, following a two year stay abroad, and owning the weapon for at least one year prior to importation.(Imported weapons may not be transfered to others during the importers lifetime.)
10.All firearms & ammo may be purchsed only after a license has been issued. The weapon has to be inspected by the Deputy Commissioner of Police(DCP) and entered into the License.Any purchse of ammo will be entered into the License by the Seller.
11. All weapon transfers need authorization from the DCP.
12.There are two types of licenses:
a.State License issued by the Commissioner of Police valid only in the state of issuance
b.All India License (which is a state license converted to All India coverage by the Home Secretary)
These can be again categorized into:
a.Non-prohibited class(Issued by the state)
b.Prohibited class(Issued by Ministry of Home Affairs)
13.Criminal Background check is compulsory.
Income per year has to be noted on the application and an Inspector of Police will perform an interview.
Comments:
1.State Licenses for non prohibited guns are extremely difficult to obtain and only people with a lot of influence or money, or buddies of the commissioner can get one.Licenses for prohibited weapons are even harder to get.
2. Since only 12 gauge and .32 S&W Long & Short and .22LR are made in India it would be logical to buy one of these calibers.