Transfer of Balance

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38 Points Posted on 26 July 2019
Can we trasfer balance from NRO SB Account to NRE SB Account. Please clarify.
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On 26 July 2019 at 14:52 Report
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SEO Sai Gr. Hosp.
212503 Points Posted on 26 July 2019

Yes ....

  • An NRI can transfer funds from NRO to NRE account only if the amount is within USD 1 million in a financial year. 
  •  Transfer of funds from NRO to NRE account is subject to payment of applicable taxes. Only if the taxes are clear you can move funds
  • The source of funds in the NRO account should be transferable/ repatriable 
  • For transfer of funds from NRO to NRE account, NRIs need to submit Form 15CA (online application form) and form 15CB (Chartered Accountant Application) to the bank branch.
1 Reply
On 26 July 2019 at 18:08

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