Those investments that have been made from NRE or FCNR accounts or by remittance of foreign exchange from abroad can be paid on a repatriation basis. If the investor mandates, such payment can be made into a non-repatriable account.
If the investment has been made from a rupee account, or an NRO account, redemption cannot be paid into a repatriable account. Capital gains arising on redemption have to be deducted at source for NRI investors.
The dispatch date should not be later than 5 working days from the date of the transaction. In case of NFOs, the SoA has to be sent within 5 working days of closure of NFO/ or from the date of receipt of the request from the unit holders.
Statement of Account (SoA) is issued every month if there is a transaction in a folio during the month. If there are no transactions in a folio in a six month period, a SoA will be sent annually, giving the latest closing balance.
Alternately, soft-copy of the account statements is sent to the investors' registered e-mail address, instead of physical statement, if so mandated.
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