Chittorgarh.com Logo
Loading...

What is the penalty for not converting resident account to NRO ac?

Save over 60% on Brokerage

We can help you save between 60% to 90% brokerage fee & taxes. Contact us today...

As per FEMA rules, the penalty for not converting resident account to an NRO account is up to 3 times the amount involved in it or Rs 2 lakh when the sum is not quantifiable. A daily penalty of Rs 5,000 will also be charged from the 1st day of intervention until the penalty is paid.



Comments

Add a public comment...