Hello to all. ''Its always good to be home''.
I am an NRI. When living abroad,there was no problem in withdrawing (or depositing) money from any broker,located anywhere in the world.
Now when i am in India,i decided to use my NRE account for my trading activities.
As NRE account needs to be funded from abroad,i was sure that there would be no problem in withdrawing my profits. But i wanted to confirm.So i contacted my bank(a nationalized one) and the person over there,started telling me many things including the fact that 3rd party remittances are allowed to the NRE accounts ONLY when the account holder is pre-informing the bank about such a remittance.Moreover,he was stressing on the legal issues. This all made me feel that this all can be full of hassle.
So,here i request those NRI traders who have received their profits successfully from offshore brokers to their NRE accounts to please Share your experiences please.Did you guys face any problem in doing the same?
Thanks.
I am an NRI. When living abroad,there was no problem in withdrawing (or depositing) money from any broker,located anywhere in the world.
Now when i am in India,i decided to use my NRE account for my trading activities.
As NRE account needs to be funded from abroad,i was sure that there would be no problem in withdrawing my profits. But i wanted to confirm.So i contacted my bank(a nationalized one) and the person over there,started telling me many things including the fact that 3rd party remittances are allowed to the NRE accounts ONLY when the account holder is pre-informing the bank about such a remittance.Moreover,he was stressing on the legal issues. This all made me feel that this all can be full of hassle.
So,here i request those NRI traders who have received their profits successfully from offshore brokers to their NRE accounts to please Share your experiences please.Did you guys face any problem in doing the same?
Thanks.
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