Can an NRI repatriate money out of balances held in NRO accounts

Question: Can an NRI repatriate money out of balances held in NRO accounts?

Answer(s)

Raju Kanumuri: Interest earnings can be repatriated. In addition to this, remittances up to USD 1 million per the calendar year from balances in NRO accounts subject to payment of applicable taxes is allowed for any purpose up to an aggregate value of USD 1 million.

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