Income arising from Indian assets is taxable for NRIs
They would be under an obligation to file an income tax return in India
I have a showroom in Dubai. In 2011, I deposited 3 crore in a non-resident ordinary (NRO) account in the form of fixed deposit. I want to transfer the amount from NRO to a non-residential external (NRE) account. Is it compulsory to give Form 15CB and 15CA to banks? Who has to file these forms? The bank has deducted tax at source when it credited the interest amount. What is the ceiling for transfer from NRO to NRE during a year?