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Is income/interest earned on investments/deposits held in India by NRIs on non-repatriation basis allowed to be repatriated?

April 26, 2017allowed basis deposits earned held income India investments non-repatriation NRIs

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Is income/interest earned on investments/deposits held in India by NRIs on non-repatriation basis allowed to be repatriated?

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Ans: Yes. Income/interest accruing during the financial year 1994-95 and onwards on bank deposits and investments held by NRIs with non-repatriation benefits will be eligible for repatriation as under: • Up to U.S. $ 1,000 or its equivalent in full and one-third of the balance income earned during the financial year 1994-95; • Up to U.S. $ 1,000 or its equivalent in full and two third of the balance income earned during the financial year 1995-96; • The entire income earned during the financial year 1996-97 and onwards. • The entire income earned during the financial year 1996-97 and onwards.