https://www.taxtmi.com/circulars?id=52868 Master Circular consolidates rules for Non-Resident Ordinary Rupee (NRO) Accounts: persons resident outside India may open NRO accounts (various types) for bona fide rupee transactions; specific nationality and documentation conditions apply. It lists permissible credits (inward remittances, legitimate Indian dues, sale proceeds, resident gifts/loans within liberalised limits) and debits (local rupee payments, remittance of current income, transfers/repatriation for bona fide purposes subject to an annual ceiling and tax compliance). Repatriation of sale proceeds and balances requires documentary evidence, tax payment, and is subject to nationality-based restrictions and Reserve Bank permissions in certain cases. en-us Tue, 01 Jul 2014 00:00:00 +0530 Tue, 01 Jul 2014 15:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52868 Master Circular consolidates rules for Non-Resident Ordinary Rupee (NRO) Accounts: persons resident outside India may open NRO accounts (various types) for bona fide rupee transactions; specific nationality and documentation conditions apply. It lists permissible credits (inward remittances, legitimate Indian dues, sale proceeds, resident gifts/loans within liberalised limits) and debits (local rupee payments, remittance of current income, transfers/repatriation for bona fide purposes subject to an annual ceiling and tax compliance). Repatriation of sale proceeds and balances requires documentary evidence, tax payment, and is subject to nationality-based restrictions and Reserve Bank permissions in certain cases. Circulars FEMA Tue, 01 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52868