Can NRI avail of housing loan in rupees from his employer in India?
A. Yes, subject to certain terms and conditions. Q31. Can NRI or PIO repatriate the sale proceeds of residential or commercial property in India acquired by way of inward remittance through normal banking channel or by debit to NRE/FCNR (B) account? If so, what is the quantum? A. NRI or PIO may repatriate the sale proceeds of residential or commercial property in India acquired by way of inward remittance through normal banking channel or by debit to NRE/FCNR (B) account. The amount to be repatriated should not exceed the amount paid for acquisition of residential or commercial property (a) in foreign exchange received through normal banking channel or by debit to FCNR (B) Account or (b) the foreign currency equivalent, as on the date of payment, of the amount paid by debit to NRE account. From out of balances in NRO A/c. he may remit up to USD one million per calendar year, eligible balances including the sale proceeds of immovable property if such property has been sold after being h
