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NRI ACCOUNT

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(Querist)
24 August 2008 Hello everyone

I was in australia,and i have savings bank a/c in icici bank and i have a/c with ANZ BANK in australia.can i transfer money to india through internet banking.Why NRI ACCOUNT is used.
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CA V.V.V.S.Kiran

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CA V.V.V.S.Kiran (Expert)
25 August 2008 ya u can happily transfer ur funds. but ur account need to have the status of accepting funds from outside countries. it can be done by submitting a form mentioning how u earned the funds and for what purpose u wanted to transfer ur funds. ofcourse, they are jus procedural norms. u need not worry too much about them. NRI accounts are maintained by people like u who actually belong to INDIA, but work outside india and wants to transfer monies to their bank accounts in india
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