rohith
asked almost 3 years ago
Can funds in NRE/NRO accounts be repatriated outside of India?
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2 Answers
veeru
answered over 2 years ago
Funds up to USD 1 million (or equivalent) per financial year can be repatriated out of the balance held in NRO accounts for any bonafide purpose subject to satisfying documentation requirements.
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narahari
answered over 2 years ago
The principal amount is not repatriable and can be used only for local payments. However, the interest earned is fully repatriable. Other current incomes such as pensions, dividends, rent, etc are also repatriable, subject to producing the appropriate certificate from a chartered accountant.
