20 September 2023
Sir, My sister and Brother in law who went to USA a decade ago are now Citizens of USA which happened recently , both have NRE and NRO accounts in India and both file Income tax returns in India. Income in India is from Rents and FD'S in my Brother in law account and just FD's Interest income for my sister. Just wanted to know do they need to change any in their Bank accounts as they are US CITIZENS and any change in IT filing from this year. Can they still maintain their NRE and NRO accounts in INDIA and file Income tax returns in India as they used to do earlier , or there are any major changes in treatment of their status in BANKS and Income tax department. Thanks and Regards.
20 September 2023
They can still maintain their NRE and NRO accounts in INDIA and file Income tax returns in India as they used to do earlier. They will be considered as PIO. Persons of Indian origin for Visa purposes.
20 September 2023
Thank you very much sir , for your reply, do they have to intimate Banks and Income tax regarding their Citizenship status. Thanks and Regards.
CAclubindia
