https://www.taxtmi.com/circulars?id=2679 A resident Power of Attorney holder may operate a non-resident ordinary rupee (NRO) account to effect local rupee payments, including eligible investment payments under RBI regulations, and to remit outside India the non-resident account holder's current income in India net of taxes. The PoA holder may not repatriate funds to anyone other than the non-resident account holder, make gifts to residents on the account holder's behalf, or transfer funds to another NRO account. Banks may allow such operations pending formal amendment of the regulations. en-us Fri, 25 May 2007 00:00:00 +0530 Mon, 06 Oct 2008 12:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=2679 A resident Power of Attorney holder may operate a non-resident ordinary rupee (NRO) account to effect local rupee payments, including eligible investment payments under RBI regulations, and to remit outside India the non-resident account holder's current income in India net of taxes. The PoA holder may not repatriate funds to anyone other than the non-resident account holder, make gifts to residents on the account holder's behalf, or transfer funds to another NRO account. Banks may allow such operations pending formal amendment of the regulations. Circulars FEMA Fri, 25 May 2007 00:00:00 +0530 https://www.taxtmi.com/circulars?id=2679