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Power of AO to Grant Stay — Whether Discretionary or Controlled By the Instructions and Circulars
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Legal Considerations for Start-Ups – Are you overlooking some?
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June 2012

A.P. (DIR Series) Circular No. 117, dated 7-5- 2012 — Transfer of Funds from Non- Resident Ordinary (NRO) Account to Non- Resident External (NRE) Account.

By Gaurang Gandhi, Chartered Accountant

Reading Time 1 mins

Presently, transfer of funds from NRO to NRE account is not permitted. This Circular permits transfer funds from NRO account to NRE account within the overall ceiling of INR61,456,745 per financial year, subject to payment of appropriate tax as if funds were remitted abroad.

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