Transfer from NRO to NRE

FUND TRANSFER FROM
NRO TO NRE

NRE and FCNR accounts are tax free accounts in India. NRE is maintained in Indian currency and FCNR is account that hold foreign currency. Any interest accruing on NRE and FCNR is tax free. NRIs can freely repatriate tax free balance and interest held in NRE account. NRIs can transfer money from NRO to NRE subject to ceiling limit of USD 1 million in a financial year and after applicable taxes have been paid. All the applicable charges for transfer of money from NRE account will be charged by bank from NRE accounts.

Proceeds from any investment made by an NRI in any Indian financial instrument can be freely repatriated subject to the condition that funds were brought from abroad and investment was made through NRE account. All the capital gains taxes, if any, have to be paid before repatriation.

To be able to transfer funds from NRO to NRE, NRIs have to produce all the relevant documents along with certificate form Chartered accountant in Form 15CB and online form in Form 15CA. Further, balance transferred in NRE account from NRO account can be freely repatriated as all applicable taxes have already been paid on transfer of money from NRO account.

How much to pay for
Transfer from NRO to NRE?

Transfer from NRO to NRE would start from INR 9999/-

Features At A Glance
Starting from INR ₹ 14999/-   ₹ 9999/-
All Inclusive Fees
  • ✓ Assistance in opening of single or joint NRE Account in India
  • ✓ Adherence of guidelines in force, while transferring such funds
  • ✓ Considering Double Taxation Avoidance Agreement (DTAA) while such transfers
  • ✓ Determining whether all taxes are paid in India
  • ✓ Determining the nature of funds to be repatriated from India
  • ✓ Determining whether the taxability of the funds
  • ✓ Calculation of capital gain and taxes thereon
  • ✓ Verifying taxes withheld in India
  • ✓ CA Certificates in Form 15CB
  • ✓ Preparation assistance with Form 15 CA
  • ✓ Expert consultancy with taxation experts
  • ✓ Delegated Professional to coordinate exclusively to your case at a time.
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  • NRO accounts are meant for funds earned in India whereas NRE accounts hold your foreign income.
  • NRE account is always taxfree providing a higher rate of interest to the accountholder.
  • Two NRIs can jointly have a NRE account and NRO account can be opened with another NRI or a close Indian relative.
  • Reduced tax benefit under the Double Taxation Avoidance Agreement (DTAA) can be availed on such accounts.
  • NRE account enjoys preferential rates of remittance, making it an ideal choice to tranfer funds outside India.
  • NRE accounts are ideal to hold or maintain overseas earnings in Indian currency.
Plan Offer

FAQ
frequently asked questions

frequently asked questions
1. How NRO account different from a NRE account?
NRO account is just like savings account for NRI with almost same percentage of interest and features. On the other hand, NRE account can only receive direct funds from foreign account and this amount can be used to meet expenses in India in rupees.
NRE account holds the funds in Indian denominated currency as well as can repatriate substantial amount abroad. This way it serves dual purpose. Also, any deposit made in NRE accounts are taxfree.
NRE account can only receive funds in foreign denominated currency.
Only an NRIs can open a NRE account after proving their NRI status to the bank.
Yes, only upto $1 million per year from NRO account can be transferred to NRE account in a year.

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