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TMI BlogRegulation 5(1)(v) - Non-resident (Special) Rupee (NRSR) Account SchemeX X X X Extracts X X X X X X X X Extracts X X X X ..... dertake not to seek remittance of funds held in these accounts as also income earned thereon are eligible to maintain NRSR accounts with an authorised dealer. (ii) These accounts shall carry the same facilities and restrictions as are applicable to domestic accounts of residents in respect of repatriation of funds held in the account and/or income accrued thereon with an exception of investment in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tly with residents. 5. Rate of interest : The interest rates as applicable to resident accounts shall apply to these accounts. 6. Change of resident status of the account holder : When a person resident in India becomes a person resident outside India (other than Nepal and Bhutan) on account of his taking up employment, or carrying on business or vocation outside India or for any other purpose ind ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent individuals. (ii) The account holders are also permitted to freely transfer funds from NRO/NRE/FCNR accounts to NRSR accounts but not vice versa. ************************ Note : 1. Has been added vide Notification No. 052/2002 dated 1/3/200 2 NRSR Application-cum-Undertaking form for opening of Non-Resident (Special) Rupee (NRSR) Account Photograph/s of the accountholder/s To. .. .. (Name and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ons of Reserve Bank of India. I/We voluntarily undertake that I/We and/or my/our heir/successor will not seek repatriation of funds held in my/our NRSR a/c with you and /or any income/interest earned thereon at any time. Place (Signature/s) Date Name/s Address/es - - statute, statutory provisions legislation, law, enactment, Acts, Rules, Regulations, Taxation Tax Management India - taxmanagement ..... X X X X Extracts X X X X X X X X Extracts X X X X
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