Monthly Archives: December 2017

Loan amount advanced by PIOs cannot be remitted outside India

[ad_1] What are the pros and cons of sending Rs1 crore by PIO to my Indian parents for business as unsecured loan? —Sanjib Chakraborty A PIO can advance a loan to a “person resident in India” (not a business) from their NRO account after meeting the following conditions: a) The loan must be on a […]