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Remittance of amount for sale proceeds

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(Querist)
13 August 2012 A NRI holds shares of an indian company and sells his shares, is he allowed to reptriate that amount???? if yes then what are the formalities?????
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Amol S Joglekar

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Amol S Joglekar (Expert)
17 August 2012 current scenario of rupee convertibility on trading account or otherwise is quite liberal. The permission is generally granted ( no separate application is required to be made to reserve bank of india)subject to the monetary limit set by RBI on per annum basis.
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kirti nagpal

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kirti nagpal (Querist)
17 August 2012 What are the Monetary Limits for the above Provision??
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Amol S Joglekar

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Amol S Joglekar (Expert)
18 August 2012 Not sure off hand. But please confirm it with rbi.org site..... should be in the range of 5 lakh USD per annum.
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