Portfolio Investment Scheme Account

By foreign inward remittance by way of TT, DD, cheque, Travellers cheque, foreign currency, etc., or transfer from existing NRE accounts or FCNR accounts.

• Non Resident External (NRE)
  • Inward remittances in foreign exchange through normal banking channels;
  • Transfer from applicant’s other NRE accounts or FCNR accounts maintained with AD bank in India;
  • Dividend or income earned on investments under PIS
  • Net sale proceeds (after payment of applicable taxes) of shares and convertible debentures which were acquired on repatriation basis under PIS and sold on stock exchange through registered broker.

• Non Resident Ordinary (NRO)
  • Inward remittances in foreign exchange through normal banking channels;
  • Transfer from applicant’s other NRE accounts or FCNR accounts or NRO accounts maintained with AD bank in India;
  • Dividend or income earned on investments under PIS.
  • Net sale proceeds (after payment of applicable taxes) of shares and convertible debentures which were acquired on repatriation (at the NRI’s option) and non-repatriation basis under PIS and sold on stock exchange through registered broker.

• Non Resident External (NRE)
  • Any charges on account of sale/ purchase of shares or convertible debentures under PIS.
  • Outward remittances of dividend or income earned;
  • Amounts paid on account of purchase of shares and convertible debentures on repatriation basis on stock exchanges through registered broker under PIS.

• Non Resident Ordinary (NRO)
  • Any charges on account of sale/ purchase of shares or convertible debentures under PIS.
  • Outward remittances of dividend or income earned;;
  • Amounts paid on account of purchase of shares and convertible debentures on non- repatriation basis on stock exchanges through registered broker under PIS.