Nri bank accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

13 December 2011 Can a person maintain both Accounts - The INR account which he was maintaining before becoming an NRI and also the NRE account which he opens after becoming NRI and how does he operate the accounts

CS, Deepak Pratap Singh

CS, Deepak Pratap Singh (Expert)
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13 December 2011 Yes he can maintain both accounts but proceeds of payments from abroad would be made through the NRE account only.

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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13 December 2011 No, the INR account needs to be converted into NRO account immediately on becoming non-resident under FEMA.

Anuj
+91-9810106211
femaquery@gmail.com

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