Can I transfer funds from my NRO account to my NRE account if the source of my funds was from overseas?
I have transferred money from overseas to Indian savings account. when I went back to India I have opened an NRE account and the status of my savings account changed to an NRO account. My question is can I transfer funds from my NRO account to my NRE account if the source of my funds in the NRO account was from overseas?
I read a blog sometimes back where one expert suggested that it can be done by filling a designated form with CA certification, not sure though.
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Funds from NRO account can be moved to NRE account subject to conditions that the overall limit is less than 1 million USD. There are additional documentation required, refer a sample here. Please consult a CA or your bank for more details.
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