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.

Your Answer

Related Questions

Q: Can passport application be edited after submission?

A: You can't modify after submission on your own but it is an easy process. Once you visit PSK you can make a request to edit details, produce supporting documents in lieu of that otherwise if payment...

Q: What happens if a passport application is rejected?

A: If the passport application is rejected the first thing to do is you would check the reason for rejection. If it was rejected due to the failure of police verification or improper documentation,...

Q: How do I know if my passport is ECR or ECNR?

A: The ECNR status is not stamped on Indian passport anymore. The default status is non ECR (non-Emigration check required) for graduates and above. If you are class X pass or pay income tax so, your...

Q: Can a passport be renewed outside India?

A: If your passport has been expired or about to expire and you are living outside India then you can submit your passport renewal application at overseas itself. Indian high commission and their...

Ask