Nri bank accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
13 December 2011
Can a person maintain both Accounts - The INR account which he was maintaining before becoming an NRI and also the NRE account which he opens after becoming NRI and how does he operate the accounts
13 December 2011
Yes he can maintain both accounts but proceeds of payments from abroad would be made through the NRE account only.
CA. Anuj Gupta
(Expert)
13 December 2011
No, the INR account needs to be converted into NRO account immediately on becoming non-resident under FEMA.
Anuj
+91-9810106211
femaquery@gmail.com
Anuj
+91-9810106211
femaquery@gmail.com
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