created by Rajesh Dhruva

NRO to NRE / Abroad


Repatriation / Remittance of Non Repatriable incomes and NRO balances

Under the Foreign Exchange Management Act, 1999 [FEMA] NRI’s non-repatriable current income like rent, dividend, pension, interest on NRO deposits etc. credited in NRO account is now fully repatriable subject to payment / deduction of appropriate tax. Such facilities are also granted to NRIs who do not maintain NRO account.

A Non Resident Indian  [NRI] as also a Person of Indian Origin [PIO] can also remit upto US$ 1 million per Financial Year out of  balance held in NRO account. Such balance in NRO accounts eligible for repatriation could have been sale proceeds of immovable property ; assets acquired by way of Inheritance/legacy ; an NRO  deposit with a bank or a firm or a company ; Provident Fund balance or superannuation benefits ; amount of claim or maturity proceeds of insurance policy ; sale proceeds of shares, securities ; Balances held with Partnership or Proprietorship Firms etc.

The remittance is allowed for any legitimate purpose or for sheer reason of repatriation outside India.

We offer composite advisory services for repatriation which would include :-

.01  Collection of actual facts

.02  Documents

.03  CA Certificate

.04  Appropriate follow up with the bankers

 We also offer services of tax computation ; payment of taxes ; filing of tax returns  and tax planning in this and other matters