[Resolved] Axis Bank — Repatriation of funds from "NRO" acct | |||
Dear sir/madam, I am Individual & not a company. Also I am NRI settled in USA. I hold stocks & dividends are credited into my NRO account held at Axis Bank. I wish to repatriate my dividend funds from Axis Bank to my account held at USA bank. The Axis Bank has referred me to Circular 4/2009 dated June 29,2009 " Remittances to NRI under section 195 of the Income Tax". I am not remitting funds to NRI but I am transferring money from my NRO account to my own account at USA bank. Do I have to comply with the Circular 4/2009 dated June 29,2009 ? Alternately are there different instructions for Repatriation of funds ? Thank you & regards Suresh Bhagat Was this information helpful? | |||
Aug 13, 2020 Complaint marked as Resolved | |||
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