If you hold a Portfolio Investment Scheme (PIS) Account, shares purchased in the secondary market and sold later are automatically credited to your PIS Bank Account (RBI Designated Bank A/c for investments in Secondary Market) 

However, if the shares were not acquired through a PIS Account, the sale is treated as a Non-PIS transaction. Examples include:

• Shares bought in the secondary market while in resident status, later moved to an NRE Demat Account
• Shares allotted via IPO
• Shares received through off-market transfer from another Demat account
• Shares acquired through promoter allotment or ESOP grants

To credit the sale proceeds of such Non-PIS holdings to your NRE Savings Bank Account, please follow the process below:

1. Required Documents

• RBI approval (where applicable) for acquisition/allotment in NRE status, with date and fair market value.
• Proof of payment showing that the shares were purchased with NRE funds.
• Perquisite-tax details, if any, already paid on the acquisition.

2. Auditor’s Certificate

• Based on the above documents, the auditor will compute the tax liability (in addition to any perquisite tax already discharged).
• Navia will remit the tax on your behalf.
• Once the tax payment is complete, the auditor will issue Form 15CA/15CB for NRE remittance.

3. Charges: 

• NRE Remittance Fee:0.3% of sale value + GST, subject to a minimum of ₹7,000.
• The fee includes the auditor’s professional charges and all coordination expenses.

4. Credit to NRE Account: Upon receiving the auditor’s certificate, Navia will issue a cheque to your NRE bank for net credit of the sale proceeds (after deduction of audit/remittance charges).

Note: Ensure that all supporting documents are clear and complete to avoid delays in remittance.