My OperaTransfer of Funds from Non-Resident Ordinary (NRO) account to Non- Resident External (NRE) Account
Wednesday, May 9, 2012 3:46:28 AM
It is now permissible for NRIs to Transfer the fund from NRO Account to NRE Account
NRI as defined in Foreign Exchange Management (Deposit) Regulations, 2000 contained in Notification No. FEMA.5/2000-RB dated 3rd May 2000, as amended from time to time, shall be eligible to transfer funds from NRO account to NRE account within the overall ceiling of USD one million per financial year subject to payment of tax, as applicable (i.e. as applicable if funds were remitted abroad). Such credit of funds to NRE account shall be treated as eligible credit in terms of paragraph 3(j) of Schedule-1 of Notification No. FEMA.5/2000-RB dated 3rd May 2000.[/B][/B][/B][/B][/B][/FONT]
Id=7180&Mode=0]http://rbi.org.in/scripts/NotificationUser.aspx?Id=7180&Mode=0[/URL]
NRI as defined in Foreign Exchange Management (Deposit) Regulations, 2000 contained in Notification No. FEMA.5/2000-RB dated 3rd May 2000, as amended from time to time, shall be eligible to transfer funds from NRO account to NRE account within the overall ceiling of USD one million per financial year subject to payment of tax, as applicable (i.e. as applicable if funds were remitted abroad). Such credit of funds to NRE account shall be treated as eligible credit in terms of paragraph 3(j) of Schedule-1 of Notification No. FEMA.5/2000-RB dated 3rd May 2000.[/B][/B][/B][/B][/B][/FONT]
Id=7180&Mode=0]http://rbi.org.in/scripts/NotificationUser.aspx?Id=7180&Mode=0[/URL]
