Are there any restrictions on the type of transactions that can be conducted through these accounts?
Are there any restrictions on the type of transactions that can be conducted through these accounts? |
Yes, NRE accounts are primarily for income earned outside India and generally used for holding and managing foreign earning. NRO accounts can use local transactions and managing income earned in India. Funds from abroad can also be credited to NRO accounts, subject to applicable regulations. Understand NRE & NRO Transactions: Learn the types of transactions permitted in NRE and NRO accounts and how each account can be used. Have a Question? Click here for assisted service. |