Nro a/c and nre a/c ( repay of loan )
This query is : Resolved
ABDUL VAJEED
(Querist)
02 December 2012
Hi all,
My client is constructing a house and his brother who is a NRI funding the money from his NRE a/c , But his brother wants the money back within three years with some interest ,
Now my client wants to repay back every month some amount ,
Can she deposit back the money into NRO a/c or NRE a/c , ?
IF money deposited into NRO a/c then later point interest will be there and TDS will be there , So my clinet wants some tax planning
Thanxx
My client is constructing a house and his brother who is a NRI funding the money from his NRE a/c , But his brother wants the money back within three years with some interest ,
Now my client wants to repay back every month some amount ,
Can she deposit back the money into NRO a/c or NRE a/c , ?
IF money deposited into NRO a/c then later point interest will be there and TDS will be there , So my clinet wants some tax planning
Thanxx
Amol S Joglekar
(Expert)
02 December 2012
She can deposit in NRO a/c.
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