prasad Nilugal (Accountant and GST Practitioner . ) 20 February 2020
If Son is NRI then he can open NRE (saving ) Account in the Indian bank , one can deposit Income deemed to be earned outside India in this Account ,However you can not deposit Indian rupee in this account ,you only can deposit foreign currency which will be converted in to Indian rupees . The Interest earned on the balance at the end of quarter is free form Income Tax , NRI can send his remittance form abroad .
For all above he must be NRI .For monitory limits and current Income Tax implication you confirm from bank
Nandakumar K Konkar (Partner) 20 February 2020
Son living in US has option to open NRE or NRO a/c.
The difference between NRE & NRO accounts is that while an NRE account is a bank account opened in India in the name of an NRI, to park his foreign earnings; whereas, an NRO account is a bank account opened in India in the name of an NRI, to manage the income earned by him in India. Son may open a NRE a/c in single name or with another NRI (whose interest income is exempt in India) & a NRE a/c jointly with his mother & transfer funds from NRE to NRO a/c. Interest on NRO a/c is taxable in hands of son in India (no tax for mother, for whom it is gift from son). An NRE account allows you to transfer funds to another NRE account as well as to an NRO account. You can transfer funds from an NRO to another NRO account, but you cannot transfer funds from an NRO account to an NRE account.