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Remittance limits updated: higher permissible annual transfers from NRO accounts and inherited assets, subject to documentation and routing rules. Regulations raise the ceiling for annual remittance by NRIs/PIOs to US$ 1,000,000 from NRO account balances, sale proceeds and inherited assets, subject to documentary proof of acquisition or inheritance; instalments must be remitted through the same authorised dealer. Remittances above US$ 1,000,000 per calendar year are addressed separately for legacies or inheritances to non-resident citizens and for NRIs/PIOs from NRO balances or sale proceeds, with a ten-year cumulative holding requirement for immovable property sale proceeds.
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Remittance limits updated: higher permissible annual transfers from NRO accounts and inherited assets, subject to documentation and routing rules.
Regulations raise the ceiling for annual remittance by NRIs/PIOs to US$ 1,000,000 from NRO account balances, sale proceeds and inherited assets, subject to documentary proof of acquisition or inheritance; instalments must be remitted through the same authorised dealer. Remittances above US$ 1,000,000 per calendar year are addressed separately for legacies or inheritances to non-resident citizens and for NRIs/PIOs from NRO balances or sale proceeds, with a ten-year cumulative holding requirement for immovable property sale proceeds.
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