Corporate Benefits, whether Repatriable or not?
A corporate benefit, in the form of dividend, interest, rights, bonus etc., arising out of investment in securities, is repatriable if the investment is made on a repatriable basis. Similarly, if the corporate benefit results from investment made on non-repatriable basis cannot be repatriated. • Non-resident (Special) Rupee Account – NRSR. • Non-resident (non-repatriable) Rupee Deposit Account – NRNR. (Discontinued effective April 1, 2002. All existing NRSR Fixed Deposit accounts can be continued until maturity and on maturity be transferred to your NRO account. All NRNR Fixed Deposits can be continued till maturity and on maturity be transferred to NRE account. All existing NRSR Savings and Current Accounts have to be converted to NRO accounts not later than September 30, 2002.) 1. NRE The NRE Account can be maintained in current/savings/fixed deposits form. The balances held in the NRE Account can be repatriated abroad freely. Income from interest on funds held in the NRE account is
