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What are the conditions regarding repartiation of balances in NRO accounts?

April 26, 2017accounts balances Conditions nro

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What are the conditions regarding repartiation of balances in NRO accounts?

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A- NRI/ PIO may remit an amount, not exceeding USD 1 million per financial year out of balances held in NRO accounts / sale proceeds of assets / the assets in India acquired by him by way of inheritance / legacy, on production of documentary evidence in support or acquisition, inheritance or legacy of assets by the remitters, and an undertaking by the remitter and certificate by a Chartered Accountant.