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Smart Things To Know About Income Repatriation Rules
WN Updated: Saturday  32017 09:57 IST                           Change font size      Print this story     E-Mail this story
The source of funds used by a non-resident Indian (NRI) should be identified at the time of investing in order to decide if the money can be taken outside the country on sale or redemption.

2) If the source of funds is foreign currency, it can be sent without any restriction. If, however, it is Indian rupees, it cannot be remitted. These two sources cannot be clubbed together.

The bank account through which the investment is routed is used to determine the source of funds. The funds that are remitted from abroad into the NRE or FCNR accounts and invested can be freely sent back.

4) The income earned in India on investments is repatriable, irrespective of the source of funds. This includes interest from bonds and bank accounts, rental income, dividends from shares and mutual funds.

5) The income earned on an investment is freely repatriable once the taxes have been paid according to the Indian laws.

6) The income in the form of sale proceeds from capital assets, such as property, land, shares, bonds, andmutual funds held in India, are repatriable to the extent of funds remitted from abroad for buying these capital assets.
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