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Latest Questions

Q: Can NRI use their Indian saving accounts for sending money from abroad?

A: NRIs can send money from foreign countries to NRE account as well as NRO accounts. As per FEMA requirement, a person resident out of India can only have non-resident accounts and cannot have...

Q: I have PIO card issued in 2011like apassport type prints. is it valid to travel to India?

A: *The government of India has notified that all existing PIO card holders shall be deemed to overseas citizens of Indian cardholder (merger of PIO to OCI) *Until applicants are in receipt of an OCI...

Q: Can NRI transfer money to resident Indian?

A: NRIs don't have to pay taxes when they transfer money to India. ... For instance, if you are sending money for investment, it is recommended to open NRE savings account for fund transfer. This is...

Q: Can money be transferred from NRO to NRE account?

A: No, money cannot be transferred from NRO account to NRE account. Money even by error if transferred from NRE account to NRO account, it cannot be transferred back to NRE account.

Q: Can money be transferred from NRE account to NRO account?

A: Yes; money can be freely transferred from NRE account to NRO account.

Q: How can NRIs do the sale/transfer of shares held by them with repatriation benefits?

A: In the case of shares /debentures /bonds acquired by NRIs through stock exchanges under the Portfolio Investment Scheme, general exemption has been granted for transfer through stock exchanges...

Q: Are NRIs permitted to transfer/sell their shares held on non-repatriation basis to resident freely?

A: Yes. General exemption has been granted by Reserve Bank for transfer/sale of shares/debentures/bonds by NRIs/OCBs through stock exchanges if such transfers are made in favor of an Indian citizen or...

Q: How to repatriate sale amount from inherited securities to the US?

A: Actually NRI’s can repatriate all current income like dividends, interest, rent, mutual fund income without any limit as long as taxes have been paid. However, sale proceeds of shares is not in the...

Q: How to send money abroad from NRO account?

A: In addition to your pension, current income such as dividends, rental income is also repatriable as long as taxes have been paid on such income. Limit to remit funds per financial year is USD 1...

Q: Can Indian resident deposit rent payable to NRI in NRO account?

A: Yes, your tenant can rent in NRIs NRO account by using a cheque issued to him in your name or through online banking. Furthermore NRO account can also be held by NRIs as a ‘Joint Account’ with an...