NRE A/c & NRO A/c
This query is : Resolved
10 November 2009
Hi,
What is the difference between NRE A/c. and NRO A/c.
As we know that intrerest from NRE accounti is exempt[u/s. 10(4)] and interest on NRO account is taxable, my query is that why will one invest or deposit ones funds in NRO account.
What is the difference between NRE A/c. and NRO A/c.
As we know that intrerest from NRE accounti is exempt[u/s. 10(4)] and interest on NRO account is taxable, my query is that why will one invest or deposit ones funds in NRO account.
11 November 2009
NRE accounts ar totally for foriegn remittances & no tax on that income.But NRO is local with foriegn trd money.NRO accounts investments(FDs) rates are higher but taxable.NRE return is less but not taxable.
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