Nri holding a ordinary saving bank account

305 views 1 replies

HI

An Indian origin person, now an NRI and a foreign citizen is having a ordinary bank account in India, where his rent income is being credited. 

1. Can a foreign citizen (POI) hold a ordinary bank account in India?  What are the consequences?

2. Can he convert the said account to NRO and still get the rent income credited in this account?

3.  Where can he deposit the rental income?

4.  Does he have to link his adhar card with the bank accounts, as he doesnt have adhar card and does not intend to return to India in the near future.

 

Please advice on the above

 

Regards

Christie Alex

 

Replies (1)
1.Legally No.
2. Yes
3. In NRO
4. I don't think NRI are yet required to have Aadhar.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
24 June 2026
Chartered Accountant - GST & Direct Tax

APL

Mumbai

CA

View Details
Company
24 June 2026
Chartered Accountant

CA Darshita Shah & Co

Nadiad

CA

View Details
Company
Featured 24 June 2026
HEAD - AUDIT AND TAXATION

A R JADHAV AND ASSOCIATES

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
19 June 2026
Accounts Executive

Getfive Advisors Pvt. Ltd.

Ahmedabad

CA Inter

View Details
Company
Featured 15 June 2026
Senior Auditor

N. Dhawan & Co

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 29 June 2026
Article Assistant

Alvino Consultancy LLP

Mumbai

CA Inter

View Details