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  • Six Simple Things Every NRI Should Know About Foreign Currency Non Resident

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    India Tax Made Simple (taxworry.com)
    24 tayangan1 halaman
    Readers are already told that FCNR accounts are one of the three kinds of account which can be opened by an NRI in the earlier posts Can You borrow money from close relatives outside India? . Non Resident Indians and Person of Indian Origin are allowed to open and operate Foreign Currency Non Resident (Bank) Account – FCNR (B) Account without any requirement of approval from RBI.

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    Readers are already told that FCNR accounts are one of the three kinds of account which can be opened by an NRI in the earlier posts Can You borrow money from close relatives outside India? . Non Resident Indians and Person of Indian Origin are allowed to open and operate Foreign Currency Non Resident (Bank) Account – FCNR (B) Account without any requirement of approval from RBI.

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    Attribution Non-Commercial (BY-NC)
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    24 tayangan1 halaman

    Six Simple Things Every NRI Should Know About Foreign Currency Non Resident

    Diunggah oleh

    India Tax Made Simple (taxworry.com)
    Readers are already told that FCNR accounts are one of the three kinds of account which can be opened by an NRI in the earlier posts Can You borrow money from close relatives outside India? . Non Resident Indians and Person of Indian Origin are allowed to open and operate Foreign Currency Non Resident (Bank) Account – FCNR (B) Account without any requirement of approval from RBI.

    Hak Cipta:

    Attribution Non-Commercial (BY-NC)
    Unduh sebagai DOCX, PDF, TXT atau baca online dari Scribd
    Tandai sebagai konten tidak pantas
    dari 1

    Six Simple Things Every NRI Should Know about Foreign Currency Non Resident (Bank) Account !

    Readers are already told that FCNR accounts are one of the three kinds of account which can be opened by an NRI in the earlier posts Can You borrow money from close relatives

    outside India? . Non Resident Indians and Person of Indian Origin are allowed to open and
    operate Foreign Currency Non Resident (Bank) Account FCNR (B) Account without any requirement of approval from RBI. Following are Six distinct characteristics of the FCNR accounts. 1. FCNR (B) accounts are only in the form of term deposits of 1 to 5 years 2. All debits / credits permissible in respect of NRE accounts are permissible in FCNR (B) accounts also. 3. Account is maintained in six currencies only i.e in Pound Sterling, US Dollar, Japanese Yen, Euro, Canadian Dollar and Australian Dollar 4. NRI can get loans up to Rs.100 lakh against security of funds held in FCNR(B) deposit either to the depositors or third parties. 5. When an account holder becomes a person resident in India, deposits may be allowed to continue till maturity at the contracted rate of interest, if so desired by him. 6. Same terms and conditions as applicable to NRE accounts in respect of joint accounts, repatriation of funds, opening account during temporary visit, operation by power of attorney, loans/overdrafts against security of funds held in accounts, shall apply mutatis mutandis to FCNR (B).

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