Are the NRIs permitted to give a Power of Attorney to a resident Indian to operate the Non – resident accounts?
A Power of Attorney is given only for operations in the account & not for opening the account. Further the operations are restricted only for making legitimate local payments. In no circumstance is the Power of Attorney holder allowed to repatriate the funds abroad or make payments of gifts on behalf of the account holder.
Related Questions
- Are the NRIs permitted to give a Power of Attorney to a resident Indian to operate the Non - resident accounts?
- Are the NRIs permitted to give a Power of Attorney to a resident Indian to operate the Non - resident accounts?
- Are the NRIs permitted to give a Power of Attorney to a resident Indian to operate the Non-Resident accounts?
