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Is there any restriction to transfer fund from NRO to NRO in Kerala. I have NRO account with CSB. I would like to transfer fund from NRO to another NRO account in Kerala in to a different bank. How much amont we can transfer at a time? Is there any tax deduction for that?
Kind regards. Lawrence
Is there any restriction to transfer fund from NRO to NRO
There are no restrictions on transferring funds from NRO to another NRO account.
Is there any tax deduction for that?
This would depend on the purpose of the transfer. There is no tax on account of transfer of money. There may be tax to the other NRO account holder.
