Permissible credit into NRE Account

This query is : Open

Kislay Prasad Sinha (Querist)
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30 April 2011 Hi,

Please guide whether refund of income tax from indian government can be credited into NRE account.
Please accord with the specific section

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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01 May 2011 Can't be deposited in NRE account. Pl see para 10 of Clause B of Reserve Bank Of India's clarification in http://www.rbi.org.in/scripts/FAQView.aspx?Id=52

CA. Anuj Gupta

CA. Anuj Gupta (Expert)
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01 May 2011 No you need to open an NRO account for the same.

the same is provided under schedule -III of Foreign Exchange management (Deposit) regulations ,2000

Anuj
0-9810106211

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