FEMA, 1999

This query is : Open

CA Tejas Andharia (Querist)
Follow

21 November 2008 Can the Fixed Deposites got opened under NRO A/c. be repatriated back to outside india? As far as I know it can not. Yes, i want to confirm.

CA.ViVeK M ACA

CA.ViVeK M ACA (Expert)
Follow

21 November 2008 Once you deposited under NRO account you cannot repartriated.

Ravikumar.G

Ravikumar.G (Expert)
Follow

22 November 2008 Further:

What are the conditions regarding repatriation of balances in NRO accounts?
Ans:

1) Repatriation is allowed up to US dollars 1 million per calendar year for any purpose from the balances in NRO accounts subject to payment of applicable taxes.
2) The limit of US dollars 1 million includes sale proceeds of immovable properties held by NRIs/PIOs for a period of 10 years.
3) In case a property is sold after being held for less than 10 years, remittance can be made if the sale proceeds have been held by the NRI/PIO for the balance period.

CA Tejas Andharia

CA Tejas Andharia (Querist)
Follow

22 November 2008 Thanks Mr. Ravikumar.
But r u confirmed that the limit of 1 million repatriation includes FDR amounts also?

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Summarize this with AI

ChatGPT Perplexity Claude Google AI Grok

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

CA Uzma Khan

S D Kannan

CA Saurabh Jadhav

Ramesh Thammineni

SARAN KUMAR

Subscribe Now

FEMA, 1999

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Manager- Finance and Compliance

CA Final

Article Assistant

GST CONSULTANT

Accountant

GST CONSULTANCY