3 Responses to 15 Important Recent Changes affecting NRIs by RBI and Indian Government

  1. Atul Patel says:

    Dear Sir,

    I am NRI living in USA and I have money in NRO account in Canara Bank. I also have NRE account in same bank under common ID. What would be the procedure to transfer from NRO to NRE account?
    Your guidance will be greatly appreciated.

    Thanks

    Atul Patel

    • Jigar Patel, CFA (USA), MBA-Finance (USA), CPA (USA), CA (India) says:

      You would need to contact your bank and understand the procedures as different banks have their own internal requirements and procedures. That being said, if the source of funds in NRO is taxable (rent, interest, sale of asset, etc.), you would need a CA certificate in form 15CB, file form 15CA to the Income Tax department and also complete forms and documents required by the bank. Thanks.

  2. Vihan S says:

    This is really helpful. Thanks a lot.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>