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Payment from nre/nro account

This query is : Resolved 
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(Querist)
23 September 2014 Hi All

I am a NRI, have purchased a residential property in Mumbai, India for investment purposes.
I am not availing any loan facilities in India and need to make payment to the builder based on the remittances I have made from my overseas earning.
Wanted to know, from which account(NRE/NRO) should I make the payment in the following two situations:
1) In case I dont go for property registration.
2) In case I go for property registration.

Will like to know if there are any restrictions in the nature of payment I make from either of the accounts and what are the tax implications.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
25 September 2014 1. you should always register...

2.. you can transfer funds to your NRO account for payment for the purchase...
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Ankit

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Ankit (Querist)
25 September 2014 Thanks for the response sir.

But will request you to kindly explain me the reason i need to make the payment from NRO account and not NRE account
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Rupesh Jain

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Rupesh Jain (Expert)
07 October 2014 in nre a/c you have to deposited the foreign curreny in a/c . and in NRO you can remit the curreny in your a/c .
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
07 October 2014 because RBI provides for restrictions on what debits can be made to NRE accounts,
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