18 August 2013
My daughter is now NRI, She has NRE bank account in SBI. and her original bank account in other bank. Also other bank account is attach with their share dmat account. My quire is should she hold ordinary account and share dmat account in other bank or she has to inform all the related institution about their NRI status. Hasmukh
19 August 2013
NRI status is for the Income Tax purpose and for bank purpose. The dividend as received by her is exempted and therefore if she is maintaining any general savings account then it is not going to affect her income or taxability. It is better that gradually the general/ ordinary account be closed and the dividend is transferred to NRI a/c
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