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NRE A/c & NRO A/c

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(Querist)
10 November 2009 Hi,

What is the difference between NRE A/c. and NRO A/c.

As we know that intrerest from NRE accounti is exempt[u/s. 10(4)] and interest on NRO account is taxable, my query is that why will one invest or deposit ones funds in NRO account.
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O.D.SHARMA

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O.D.SHARMA (Expert)
11 November 2009 NRE accounts ar totally for foriegn remittances & no tax on that income.But NRO is local with foriegn trd money.NRO accounts investments(FDs) rates are higher but taxable.NRE return is less but not taxable.
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