31 July 2021
hello, if i become nri is it mandatory to tell bank that i have become nri? if required then in how much time? if i have any loans running for business or home loan will i have to close or those will continue?
i have been paying all my emis timely and will continue but don't want to close just because i become nri.
01 August 2021
Yes, it's mandatory inform within 6 months. Your savings account has to be converted as NRO account. No need to close loan Accounts, you can continue and make repayments.
CAclubindia
