Can NRIs open both NRE and NRO accounts?

Can NRIs open both NRE and NRO accounts? 

Yes, NRIs can open both NRE (Non-Resident External) and NRO (Non-Resident Ordinary) accounts simultaneously under the same PAN. These accounts serve different purposes: 

  1. NRE Account: For depositing income earned outside India. It allows for repatriation of funds and is tax-free in India. 

  1. NRO Account: For income earned in India, such as rent, dividends, or pensions. It has limitations on repatriation, and income is subject to taxes in India. 

Open NRE & NRO Accounts:

Learn whether NRIs can open both NRE and NRO accounts, their purposes, and the key differences between them. 

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