NRO FD account - Is it repatriable?

Tsozum · Post by **Tsozum** » Sun Jul 08, 2012 11:47 pm

I worked in India for two years and so I have some balance. The HDFC guy told me that I could open an NRO account and transfer the money from my resident savings account to NRO account and close it.

HOWEVER, I have two questions
(1) Am I allowed to repatriate this money?
(2) I have two tax saving FD opened. Is it legal to close this?

punjabi · Post by **punjabi** » Mon Jul 09, 2012 11:02 pm

Tsozum;464125I worked in India for two years and so I have some balance. The HDFC guy told me that I could open an NRO account and transfer the money from my resident savings account to NRO account and close it.

HOWEVER, I have two questions
(1) Am I allowed to repatriate this money?
(2) I have two tax saving FD opened. Is it legal to close this?

NRO account is repatriable after paying correct amount of income tax and submitting form 15CA and 15CB which can be provided by a chartered accountant.
I did this recently , it cost me Rs 5000 only .

MunnaBhaiNRI · Post by **MunnaBhaiNRI** » Mon Sep 17, 2012 7:23 am

All of you are talking about NRO FD accounts and repatriability. But what about NRE-FD account and the repatriability? Pl share some light on it. Thanks

dbs · Post by **dbs** » Sun Sep 23, 2012 9:54 pm

MunnaBhaiNRI;474184....But what about NRE-FD account and the repatriability?

It is repatriable.