Nri bank transfer
This query is : Resolved
Rahul Singh
(Querist)
20 May 2022
i taken residency of other country and opened company and personal bank account. i will not stay in india to be nri. but now i have to transfer funds from my india account to new country account.
banker say that i can transfer without updating nri status also. because he say that status change takes time and i will not able to transfer when changing status for 1 week or more.
is that okay? if i send money from my personal india to foreign personal account? i come in 30% tax category and always paid. but will it generate some inquiry from it deprtment? because it is not nri status in bank.
banker also say i can change nri in account when i come to india in 1-2 mnths.
help please
banker say that i can transfer without updating nri status also. because he say that status change takes time and i will not able to transfer when changing status for 1 week or more.
is that okay? if i send money from my personal india to foreign personal account? i come in 30% tax category and always paid. but will it generate some inquiry from it deprtment? because it is not nri status in bank.
banker also say i can change nri in account when i come to india in 1-2 mnths.
help please
CA R SEETHARAMAN
(Expert)
20 May 2022
Upto 7 lacs you can transfer without TDS.
For urgent requirement you can transfer with TDS. TDS you can get refund by filing ITR
Wait and Transfer money as NRI.
For urgent requirement you can transfer with TDS. TDS you can get refund by filing ITR
Wait and Transfer money as NRI.
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