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Repat. from NRO to NRE

Liberalised Remittance Scheme (LRS)

Under LRS, residents are allowed to remit up to USD 250,000 per financial year for permissible capital and current account transactions (or a combination of both). Only resident individuals (including minors) are permitted to remit funds abroad under LRS. In case of minors, the LRS declaration form shall be countersigned by the guardian.

Current Account Transactions permitted under LRS

  • Private Visits to any country (except Bhutan and Nepal)
  • Gifts or donation
  • Going abroad for employment
  • Emigration
  • Maintenance of close relatives abroad. Relative as per Section 6 of the Companies Act
  • Business Trip
  • Medical Treatment abroad
  • Education abroad
  • Any other permissible current account transaction as per FEMA

Capital Account Transactions permitted under LRS

  • Opening a foreign currency bank account abroad
  • Transferring money to own foreign currency accounts abroad
  • Purchasing property abroad
  • Making investments abroad
  • Purchasing object of Art subject to provisions of extant Foreign Trade Policy
  • Loans and gifts in Indian Rupees to NRI/PIO close relatives
  • Repayment of a loan abroad availed while you were a non-resident

Medical Treatment Abroad

This limit for this head is also subsumed under LRS. You can remit up to USD 250,000 or its equivalent without any estimate from the doctor. If the amount exceeds USD 250,000, you need to furnish cost estimate from a doctor or hospital in India or abroad. RBI approval is not required in this case. However, Authorized dealer bank must be satisfied with the documents presented.

Students going abroad

The remittance under this head is also subsumed under LRS. Like with medical treatment, you do not need to provide any estimate for remitting up to USD 250,000 per financial year. However, Authorized dealer (bank or institution) may allow remittance exceeding USD 250,000 based on cost estimate from foreign university. RBI approval is not required in such case.

Loan/Gift to NRI/PIO close relative under LRS

As a resident, you are allowed to offer Rupee loans to NRI/PIO close relatives subject to certain conditions.

  • The loan should be free of interest and the minimum tenor should be 1 year.
  • The loan amount shall be credited to NRO account of the NRI/PIO close relative.
  • The loan amount shall not be remitted outside India.
  • The loan amount shall be utilized for borrower’s personal requirements or business in India.
  • The loan amount cannot be invested in chit funds, Nidhi Company, agricultural or plantations activities, real estate business (with exceptions) or used for construction of farm houses or trading in TDRs.
  • Repayment of the loan shall be made through inward remittances or through debit to NRO, NRE or FCNR accounts or out of sale of security against which such loan was granted.

HOW IT WORKS

1

SELECT A PACKAGE

  • Select a service that you require
  • Choose a suitable Package or Plan depending on the Work involved the Services required
2

REGISTER

  • Submit or eMail your Contact details or provide the Client Registration Form
  • Provide basic documents (relevant KYC)
  • Make payment (Gateway, NEFT, Cheque, or Cash)
3

DOCUMENTATION

  • Speak to our Advisor
  • Submit your remaining documents / details by any of the following modes:
    • eMail to info@TaxAssist.in
    • Courier to HelpDesk
    • Visit to our Branches
    • or even WhatsApp
4

FINALIZATION

  • Once we have finalised, we will send you the Draft for Approval
  • Once approved & submissions made, you will receive Final Documents from us by eMail, courier or visit.

DOCUMENTS

To initiate the process, we will request you to provide us the following basic documents:
(We donot require any original documents. The documents can either be Emailed, Couriered, Physically delivered to our branches or even Whatsapped to us)

    Resident (Individuals)
  • PAN
  • Passport
  • PIO, OCI (if applicable)
  • Aadhaar Card
    Resident (Corporates)
  • PAN
  • TAN, VAT, GST
  • MOA, AOA
  • Incorporation Certificate
    NRI's & Expats
  • PAN
  • Passport
  • PIO, OCI, CDC (if applicable)
  • Aadhaar Card


Showing 1 to 4 of 4 (1 Pages)

Basic (REPATRAITE NRO TO NRE & UNDER...

Suitable for individual having form 16 with income of less than Rs 10 laks p.a and interest income only...

₹5,000.00
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Silver (REPATRAITE NRO TO NRE & UNDE...

Suitable for individuals having an income of Rs 10-20 Laks p.a and interest income only OR an investment portfolio of less than Rs 20 Laks...

₹7,500.00
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END TO END (REPATRAITE NRO TO NRE & ...

Suitable for individuals having an income of more than Rs 20 Laks p.a OR an investment portfolio of more than 50 Laks OR a net worth of more than 3 crores having CG from sale of Real Estate OR planning to relocate to/from India OR having income from ..

₹20,000.00
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PREMIUM (REPATRAITE NRO TO NRE & UND...

Premium personalised services for TDS Advisory, Filing, Certifications & Compliance with personalised attention throughout the transaction...

₹40,000.00
rating
Showing 1 to 4 of 4 (1 Pages)

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