NRO Account

Non-Resident Ordinary Account — an INR-denominated account for NRIs to manage income earned in India (rent, dividends, pension). Repatriation limited to USD 1 million per year. Income is taxable in India.

NRO Account is significant under FEMA because it refers to: Non-Resident Ordinary Account — an INR-denominated account for NRIs to manage income earned in India (rent, dividends, pension). Repatriation limited to USD 1 million per year. Income is taxable in India.

NRO Account under FEMA applies to companies, professionals, and individuals involved in FEMA-related compliance and regulatory matters in India. Specifically: Non-Resident Ordinary Account — an INR-denominated account for NRIs to manage income earned in India (rent, dividends, pension). Repatriation limited ...