Can I reply to my own posting?

thanks to all in advance for help with this topic. Hope I can send a PM now.

Of course you can, we all "talk to ourselves" at times.


.

sometimes the only way to get a sensible answer

I find talking to the dog best for that!


.

I would appreciate a PM from anyone with advice or experience on getting funds out of India. Many thanks for helping during stressful times.

Dear All,

We're worried that the refund from our flat will get stuck in an Indian bank account or worse that the Indian bank will not be happy with such a large sum in a NRO account. Does anyone have any experience of getting funds remitted from India back to their UK bank account? Or have any other suggestions.

thanks

If anyone is interested, i will be in Benaulim South Goa in october, if you need to change some RPs into Pounds, i can bring out about £5000 in £50 pound notes, which i can change for large rupees notes 1000s.
At my rate about 80 = £.
I really dont need these so bad if you shop around you can probably get a better deal.
If anyone is interested send me a peronal message, thanks.
Has anyone heard of buying Rupees on ebay??, i read someone bought some on ebay at 80=£, all new to me.

You say refund- if that is a refund of a deposit or similar then your builder/ developer can remit your money to the UK (I assume that you sent it from the UK in the first place). You can find details on the RBI website.
If you have to remit the money then it becomes more complicated - are you currently resident in India as per FEMA? If so you can remit up to $1,000,000, if not (and I assume you are not NRI/ PIO) then talk to the RBI - in any of these cases you will need an accountant to check that you have paid capital gains tax before you can remit the money.

AndyD 8-)#

Dear Andy,

Thanks for the reply. Yes it is a refund of a deposit and the funds were originally sent directly from our UK account to the Builder's account in Goa. We do have a personal NRO account in Goa but funds cannot be remitted overseas from a NRO account, so it would have to be remitted from the Builder's business account.

Has anyone else had a refund repaid from the Builder directly back to the UK? Perhaps an initial deposit which was returned prior to any final payment or completion? Or a lease deposit returned at the end of a 5 year lease?

thanks
Linda

Wow rupee riding high at over 75.

Lets hope it stays up.

76.100 at the moment.

It will be very very much easier if your builder repatriates the money for you - refer him / his bank / the local RBI to these FAQ - see Q18 - if appropriate read with the statement in the Introduction that "A person resident in India who is not a citizen of India is also covered by the relevant Notifications. "

AndyD 8-)#

As long as its around this 18th october, more kingfisher's.