Dear sir/madam,
I am Individual & not a company. Also I am NRI settled in USA. I hold stocks & dividends are credited into my NRO account held at Axis Bank. I wish to repatriate
my dividend funds from Axis Bank to my account held at USA bank.
The Axis Bank has referred me to Circular 4 dated June 29 " Remittances to NRI under section 195 of the Income Tax".
I am not remitting funds to NRI but I am transferring money from my NRO account
to my own account at USA bank.
Do I have to comply with the Circular 4 dated June 29? Alternately are there different instructions for Repatriation of funds?
Thank you & regards
Suresh Bhagat
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