NRO account remittance reporting: monthly statements required within seven days, including NRO to NRE transfers under FEMA compliance. Authorised Dealer Category I banks must submit a monthly statement within seven days of month end to the Chief General Manager in Charge, Foreign Exchange Department (NRFAD), Reserve Bank of India, showing number of applicants and total amounts remitted from NRO accounts as per the revised proforma. The proforma requires separate reporting of sale proceeds of immovable property, other assets and transfers from NRO to NRE account; data may be sent preferably by e mail.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
NRO account remittance reporting: monthly statements required within seven days, including NRO to NRE transfers under FEMA compliance.
Authorised Dealer Category I banks must submit a monthly statement within seven days of month end to the Chief General Manager in Charge, Foreign Exchange Department (NRFAD), Reserve Bank of India, showing number of applicants and total amounts remitted from NRO accounts as per the revised proforma. The proforma requires separate reporting of sale proceeds of immovable property, other assets and transfers from NRO to NRE account; data may be sent preferably by e mail.
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