Title | : | HOW TO TRANSFER FUNDS FROM NRO TO NRE ? CA SRIRAM RAO |
Lasting | : | 20.11 |
Date of publication | : | |
Views | : | 473 rb |
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Hi sir , I watch all your videos brNeed your help plz guide me if a Pvt ltd is paying salary in nro account , is it compulsory to file 15 ca and 15 cb as amount of salary js 7 lac , plz sir kindly help Comment from : CA Ramandeep Singh |
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The money that a person earns From Outside soon becomes Complicated when brought to India Comment from : George Baiju |
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I have a question is it allowed to deposit monthly salary in INR from Indian company into NRO account in case a person living abroad works for an Indian company as a consultant from abroad If yes, does the person has to pay tax to Indian govt as well assuming the person will pay tax to foreign govt? Comment from : Deepak Bhagat |
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Stupid subject Comment from : Najma Jose |
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Very useful talk Thanks Comment from : raghbir dhaliwal |
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Thank you for the clarity you bring to these issues Very well presented video and very informative Thank you Comment from : Nandini Bhaduri |
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Had experience with Axis bank where they refuced to accept even 50000 cash rupee into NRO account?Is this a case with Axis bank or its a same process all bank follow Comment from : Shiney Chhibber |
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Kindly let us know whether money received in NRO a/c from the sale of inherited property can be transferred abroad freely ( with due forms etc) Thanks Comment from : Chandu Suryavanshi |
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Made it crystal clear and the discussion is user free Comment from : Narasinga Rao Palisetti |
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Requirment of FORM 15CB depends on PURPOSE CODE, there are few purpose code for which FORM 15CB is mandatory Otherwise only FOR 15CA and proof of source of funds required Comment from : Susan B |
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Clear and fine explanation Thanks Sir Comment from : Varadarajan Pelapur |
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I have received zerodha account as nri I do have hdfc pis account too But i couldn't transfer money neither through UPI nor Instant transfer Could you make a video for nri's or please reply here Thanks in advance Comment from : Bob J |
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We heard the amount is limited to $250000 per annum Not $1 million, please clarify Comment from : Mohammad Belgami |
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Mr Sriram how to catch Tax evaders of our Nation especilly CELl companies Comment from : HANUMANTH REDDY |
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Under dire pressing circumstances we have been able to transfer from TDS INCOME TAX PAID NRO Account to foreign account under LRS Scheme Nonetheless your channel is informative and usefulbrThank you Comment from : Satrajit Choudhury |
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Very nice informative videobrWhat about gift money from parents? Comment from : srini kala |
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Please remove the videobrEvery quarter or half year ruleschanges Comment from : vijayan vnair |
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Was very useful Comment from : Elango MS |
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The video was helpful and informative I have a question x is an NRI having a property in India purchased before leaving India If x wants to sell the property and repatriate to the country where he is presently staying what is the procedure If he inherits any money by way of will or gift how he can repatriate the money what is the procedure Will you kindly explain Comment from : Ramesh KR |
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Nominee is now Citizen of USA has NRO and NRE ACCOUNT in IndiaShe is nominee of father's FD s in IndiaHow it will be transferred to her NRO accounts after my deathbrSusanta Lahiri Comment from : Susanta Lahiry |
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Thanx a lot Very useful information in this vdoFor person like me with new nro and nre accounts 👍🙏 Comment from : Ashwini Pendharkar |
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Do I need formal approval from sema to reverse it to NRE ? or just filling up the form is good enough Comment from : Suneel Menon |
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Where are the forms A2, 15CA & 15CB for download? Thanks Comment from : Dr Ram Ganesh - USA |
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Indian rupee can not be credited to NRE account straight away But to NRO account only After the conditions are met it can be directly repatriated or through NRE account CA's certificate can not be relied as many cases are coming up before ED Only tax authorities can certify and based on that RBI can be approached through Banks to get permit Comment from : Sundara Raman |
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What about transferring from NRE to foreign account?brAny limit it is it allowed at all? Comment from : BrahMos Missle |
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If more than 1 millon how to approach rbi any form or direct application to rbi manager officer or some other officer Comment from : pvnraju penmetsa |
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I am sending money to my son approx 20 lacs to abroad and also paid TCS , is it possible to get refund the tcs after filing the tax Comment from : D VENKATARAMAN |
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Transferring from NRO directly to foreign countries involves TCS beyond 7L as of today So there is a huge difference of sending from NRE and from NRO as in NRE no TCS is there Comment from : Saju Gopinath |
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Dear Dr CP brFirst of all, I would like to say thanks for your efforts, which help a lot to your fellow Indians who are living abroad👍
brI have a single query: Before I became an NRI, I bought some equities and they are in a Demat account with my broker
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brNow I have opened NRE/NRO PIS account with my banker as they guided me and I sent these details to my broker and now my broker linked my new NRO PIS account with my trading account and there I can transfer money to buy new equities and even I bought some new equities also
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brMy question is what about my old equity holdings which I had before NRI status and before opening the NRE/NRO PIS account?
brAnd what If I want to sell that previous holding?
br
brThanks once again🖐 Comment from : ************ |
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Dei credit card is same as this Comment from : We all are equal |
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Dei credit card is same as this Comment from : We all are equal |
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I encountered problem and the ombudsman did not help either Not just me, several people have issues with banks in India, very poor customer service Comment from : Shantha Nalur |
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Very well explained, thanks Can you please give this class to bankers too please My daughter transferred money from her NRE account in India to my NRO account by mistake, she was supposed to transfer to NRE account and it was less than 1 lakh I had to do several documentation, back and forth calls and get a CA involved to move into my NRE account in the same bank Comment from : Shantha Nalur |
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Sir my son came back from USA in Jan 22 , stayed in India for 10 months at Chennai for job During this period he was required to open domestic saving bank account in which hw saved some amount Now he went back to USA How to transfer domestic funds to NRO or NRE which were continued or repatriate those funds directly to his USA account ? His domestic income is accounted for through tax return He paid the tax dues Please guide me Comment from : Avi |
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If NRO-> to NRE is such a hassle why cant one wire money to foreign account imstead of NRE ? Comment from : Samar |
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@NRIMoneyClinicbrHibrCan someone freely transfer funds from NRO account to a resident indian family member (brother, sister, father, daughter) normalbrsavings bank account ?brCan someone freely spend money (thru cheques) from NRO accounts within india for purchase of vehicles, etc ? Comment from : Syed meher |
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What about TCS on income tax paid account Comment from : apurba adhyapok |
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Thank you very much for your vediobrSir, can you please clarify whether it is required to submit the bank statement from the foreign bank while opening the NRE/NRO accountsbrThanks Comment from : lakshmi p |
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Can i pay a NRI international credit card bill attached to the NRE Account, using the NRO account? Any idea? Comment from : Shyam Prasad |
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How can an OCI card holder get adhaar card? Comment from : Thali Rajashekhara |
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How can an OCI card holder get aadhaar card? Comment from : Thali Rajashekhara |
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Detailed and clear communication to viewers regarding repatriation of money from India to abroad Excellent and very useful discussion Thanks a lot, brDr Ramachandra Miryala Rao, PhD MPH Los Angeles, CA Comment from : Ramachandra Rao |
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Very selfish approach by govt Transfer of funds to NRE from NRO is restricted Comment from : Uber Urbane |
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Thanks for the video! I have a question:brI have sent money (already taxed in Germany) from my NRE account to my sister's Savings Bank account for her educational purposes Now when she returns the money, it'll be sent to my NRO account My question is, can this money be transferred back to my NRE account without taxation? brThanks in advance! Comment from : Venkatesan Krishnamurthy |
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Can we put money into NRE account directly in India Comment from : Be truthful |
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Bankers are not knowledgeable about these things I wanted to transfer from my NRE UCO bank account to my NRE account with Citibank The reason was to consolidate my money into one account which could be operated from Singapore via Internet banking more easily Citibank refused and proceeded to transfer it to my NRO account as they refused to believe that my UCO bank account was an NRE account in spite of my Banker providing proof I had to involve my personal Citi NRI Relationship manager in Singapore (I am their Gold customer) and it took me some 4 months to do this NRE to NRE transfer! This shows that bank officers in India are not conversant with the various accounts in their banks and are unnecessarily obstructive Comment from : obgprasa |
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Thank sir for your professional guidance on NRE & NRObrbrThe question that I have is this:brIf I give a loan of Rs 20 lakhs or more or 5 lakhs to someone from my NRE account and when the loan is repaid, can this money be redeposited in my NRE account or not? brThank you Comment from : Pratap Reddy |
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Question: My father in India invested in stocks (capital was gifted my me from my NRE account) and made 8 figure profit over a period of 4 years father pays all required taxes now can father gift the money back to my NRO account and can I transfer it to my NRE account, without paying further tax Thanks in advance Comment from : Market Moja |
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Great knowledge sharing Comment from : moti mahesh |
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Sir, I am looking to repatriate around 10 lakhs of indian rupees earned in India (Income tax paid) to UK towards purchase of a new house When you said 'same process' to be followed, may I check if you meant filling out the A2, 15CA, 15CB forms? Or can they be freely transferred to my abroad bank account using an online banking platform such as Transferwise, remitly etc? Comment from : Deepa Vijayaraghavan |
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Matter very well explainedbrbrOne clarification is given belowbrbrThe origin of immediate credits which constitute the balance in the NRO Account will be verified Only the funds which originated from abroad or NRE Account will be allowed to be repatriated abroad or shifted to NRE/FCNR Account brbrLet us suppose a total of various credits from abroad amounts to Rs10 lakhs over a period of time Out of which, Rs9 lakhs was drawn and spent Now the balance in the account is Rs1 lakh brbrAn amount of Rs5 lakhs of local origin is credited in the account The balance becomes Rs6 lakhsbrbrNow, the question is how much is eligible to be repatriated abroad or shifted to NRE AccountbrbrPl note that out of Rs6 lakhs balance, only Rs1 lakh has immediate foreign origin and hence Rs1 lakh only is eligible for repatriation abroad or transfer to NRE Account Comment from : Sundararajan Janakiraman |
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NRO account can be credited with Foreign Inward Remittances also, whereas you have shown a pop up in the beginning that NRO account is for Domestic Transactions, which gives an impression that it precludes credit of foreign inward remittances Foreign Inward Remittances can be credited to NRO accounts also However, the moment it is credited to NRO account, it loses the trait of being repatriated freely, had it been credited to NRE Account There is no restriction of Foreign Inward Remittances being credited to NRO account, although basically it is meant for domestic transactions Comment from : SIVARAMAPRASAD KAPPAGANTU |
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Does it mean if I receive my PF withdrawal amount in NRO, which is non taxable, I can’t move it to NRE because no tax was paid on the withdrawal ? Comment from : Animesh Das |
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Fund in NRO or NRI is tax free Fund than why question come tax paid income in NRO or NRI ? Comment from : Vinod Mehra |
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I haven’t filed tax returns in India thinking TDS deduction has already been deducted on NRO Now my CA says that I should have filed tax returns in India in order to transfer from NRO to NRE Any suggestions for this scenario? Comment from : Flutters |
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Thanks for the VDO very informative and useful ❤👍🙏 Comment from : Munnoo Sheikh |
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Is it mandated that the funds transferred from NRO to NRE need to be repatriated even though on the form we mention this as the reason Can this fund be maintained in NRE as FD Comment from : SJ |
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Your videos are excellent never before evar after Your all videos are valuable assets Comment from : Naidu Vdna |
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Thanks for share video of NRO to NREbrI have NRE Account in canara bankbrJust one month ago I was request Canara bank manager to make fd NRE account, by mistake bank manager make fd for normal fd of NRE money sr Citizens kamdhenubrI asked to him why you make fd non NRE than bank manager told no problems after 444 days yu our money will be going to NRO account and he request me to open NRO account, my questions why I open NRO Account because I don't have any income from indiabrI need your support to solve this issue sir Thsnks Comment from : Ansari Riyasat-ali |
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Thanks for sharing such useful content I seek your clarification on below :brbrI have both NRe and NRo account in India If my parents ( residents in India )transfer money on which they have already paid tax “as a gift “ to my NRo account will that satisfy FEMA law ? (As it is not the money from foreign source but from India to India )brbrAnd you also mentioned transfer from NRo to NRe has to fulfil income tax law also Now, in my case , my parents have paid tax , so they meet the condition and if their tax paid money is coming to my Nro account as a gift , do I also have to pay tax on it only after which I will be able to transfer money from NRo to NREbrbrbrWill appreciate your explanation Thanks Comment from : Helloworld |
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Super explaining sir thank you so much Comment from : Murali Cheedalla |
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Is online chartered accountants are available in filling up the 15 CB form or resolving the problems with me Bank Comment from : Aadya Vlogs |
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Sir I would like to know from here abroad whether one can transfer money to NRO to NRE A/C FROM INDIAbrIf yes what procedure is to be followed let me know brOr make video on itbrThanks Comment from : asha vyas |
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Interview with excellent clarity Comment from : philip jose |
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I was baffled when the banks decided not to disclose this crucial information when I opened this account Whatever the case, this has been a significant pain to people who would want to quickly and easily transfer money from India to abroad I understand the rhetoric that RBI wants foreign inward flow, but why is so complex a hassle created to get it back Isn't it crazy to fill so many forms rather than creating a simple unified process? Comment from : Swapnil Gawai |
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Really great information My doubt for NRO to savings acc is possible ? Comment from : Simply Bharath |
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Thx for translating Comment from : Lissy Ninan |
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Nice Video👍brMy question is if I transfer money from abroad to Indian NRE account 10 cr and after 2 to 3 years I transfer amount from NRE account to abroad joint holding account (joint account is in my and my brother in law name) 8 crore Can I have to file form 15 CA while transferring from NRE to abroad joint holding account ?? Comment from : HADI PATEL |
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Can the Amount in NRE account be transferred to Domestic account of the personor rather can an NRI maintain a domestic account ? Comment from : SURESH KUMAR B |
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Very good presentation Comment from : Kailash Sankhlecha |
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Sir , I have transferred money before 3 years and moved money from my NRE to NRO account and did fixed deposits and earned interest and paid tax However I came to know recently I should have kept in NRE FD to be tax free As I am allowed to move back the money from NRO account to NRE should I be falling under fema law for those 3 years intrest earned and I transfer the total money principal and interest earned can I move back to NRE account ? brAlso if I get lump-sum from India Provident Fund and now I want to move it to NRE to do fixed deposit is it possible ? Comment from : PGPFANCOCPRO:} ⚽ |
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What's the best way to transfer funds from NRO account to Canadian Bank (Self account) in case of Canadian citizen of Indian origin? Comment from : ProActive |
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Excellent discussion sir, thanks for in-depth information within short span of time Comment from : BALDEV SINGH GOINDI |
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If I put money from the sale of a CODO in Indian NRO bank account ,how long do I have to wait before transferring into foreign bank account without any tax consequences brThank you Comment from : Prema Parameswar |
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L Comment from : asha vyas |
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HELLO MR SRIRAM RAO I have one request Could you please make a video on DEMAT ACCOUNT for NRI How NRI can create a demat account from out of India and operate from there and also how much it will cost them while trading and also yearly min account fees is applicable Could you please make a detailed video on this topic Comment from : Anubhav Singh |
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Dear Sir,brCan you make one video to say what happens to PPF deposit when the account holder become NRI at the year closer to maturity Meaning during majority of 15 years he is in india and closer to 13 or 14 years he moves abroad for jobbrBased on my understanding, since the account holder is NRI extending beyond 15 years is not applicable In such a case the tax free PPF savings is deposited in NRO account NRO account being taxed at 30 + Cess charges is it really worth to continue depositing in PPF after one has become NRI Am i missing something on the understanding of taxable PPF return in NRO account Kindly provide some clarity on PPF deposits from NRI perspective especially at maturity amount through a specific video Comment from : kishore kumaar |
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Do we need to pay tax if we prove that the NRO fund is remitted from outside india Comment from : SJ |
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Very Nice Thank you Comment from : Ram Chillarege |
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I have some doubts i have saving account in india i am currently living in Muscat oman and i have 5 lac fds in saving account now i wanted to convert my sb acc to nro account and to open a new nre account as well now i have confusion i have booked fds in saving acc if i trasnfer to nro account there will be 10 to 30 tax deduction what to do pls guide Thank you Comment from : Manroop Panesar |
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Inheritance fund received can be transferred from NRoto NRE Comment from : Surendra Bhandari |
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Excellent video sir thank you Can you please do a video on repatriation of monies to foreign country after sale of inherited property (monies in NRO to NRE account)? Thank you Comment from : mik gsal |
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Amazing peace of knowledge sharing! Sir I would like to know If an NRI have property in india and now want to sell In such case does an NRI need to pay 20 tax on property sell or not? Or any detail please share Dhyanawad🙏 Comment from : Yogic Monk |
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Thank you for the info I have an NRO account and I get a 1099-INT (US tax form) from the bank for the interest I get from the bank The interest (paid in terms of rupees) is expressed in dollars in the 1099-INT and I have to pay taxes in US dollars - for the interest that was paid to me in terms of rupees! Is there a way to get just the interest amount converted to US dollars? Comment from : sudhisira |
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Very nice Comment from : Gamma N |
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I have been researching NRI finances because I was considering investing in the Indian stock market The more I research, the more I am reminded of why I left India in the first placebrThe laws are designed in a way that majorly inconvenience the law abiding person 3 different forms, bank officials willy-nilly refusing services, and we all know what happens when we have to interact with any government official Add to that everything is a lot more complicated when you are not physically present in the country Comment from : K R |
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Great video! Instead of going through this headache of NRO to NRE transfer, is it not better to invest NRO amount in mutual funds? Sell MF later when you want to (in inr) and convert inr to usd through currency exchange companies or banks if needed to have that money in usd Any flaws in this approach? Comment from : Ajaykumar Rengaraj Sugumaran |
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✓✓✓ Comment from : somasundaram karunakaran |
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Sir very useful and informative video I have a question If I am a resident Indian, and obviously do not have any NRE/NRO account, but can I still transfer funds to any bank abroad and if yes are same FEMA and I Tax laws applicable to me Comment from : Comdt Suresh Karve |
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Thank you Both of you Great channel for us NRIs Comment from : saggy sri |
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What about the parents money transferred to NRO account Can it be transfered to NRE account Comment from : Robin Mathew |
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Hi Guys: Excellent presentation! Very concise & clear Like a few others, I also had questions on money sitting in NRO accounts in India that were funded from sale of inherited residential properties in India The necessary taxes (or exemptions for those) have been complied with and taz returns are being filed in India every year through a CA Is the procedure for transferring money from NRO account to a foreign bank account the same? The account holders are the same people Comment from : S K |
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Basically i find NRE account useless We follow all these laws and Lalit Modi , Malya escape country and same bankers helping them get rich Comment from : Thomas Sowell |
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Can I get contcat info for CA SRIRAM RAO Comment from : bsinghbhogal |
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After retiring from India I moved abroad and now hold foreign passport I get pension in my NRO account How can I repatriate that? please advise Comment from : Guru-Kool |
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Excellent tutorial Thanks a bunch! Comment from : mvcnj |
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