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Nre account.

This query is : Resolved 
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(Querist)
23 April 2019 My son a NRI is working abroad, now he is planning to take a loan of euro 25,000.00 in Germany.
As per Indian law can he transfer the loan amount through NRE account to India. (we like to use this amount to clear existing loan standing in his father's name)
Regards
Vaidhyanath.
Bengaluru
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
23 April 2019 NRE account is only for keeping in deposit of foreign currency. Transfer the money directly to father's account or to relatives account.
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Vaidhyanath K.a

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Vaidhyanath K.a (Querist)
23 April 2019 Thank you, will transfer the funds into local account and use it.
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