Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Non resident ordinary (NRO) account How NRO funds can repatriated?

0

Remittance/s upto USD 1 million, of balances in NRO accounts/of sale proceeds of assets on production of an undertaking by the remitter together with a certificate issued by a Chartered Accountant as prescribed by the Central Board of Direct Taxes (CBDT). In the case of repatriation of sale proceeds of immovable property by NRIs/PIOs, repatriation can be allowed thereof even if the immovable property was held by the NRIs/PIOs for less than 10 years provided the cumulative period of holding of the immovable property in India and retention of the sale proceeds of the property in the NRO Account is not less than 10 years(Allowed upto 30.6.2003).

Related Questions

Thanksgiving questions

*Sadly, we had to bring back ads too. Hopefully more targeted.