| Author |
Message |
    
Esscuseme
Kurra Bewarse
Username: Esscuseme
Post Number: 1243
Registered: 03-2005
Posted From: 50.156.3.157
| | Posted on Thursday, June 09, 2016 - 11:38 pm: |
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NRO - you will transfer in $$$ and the deposit will be in rupee.
NRE - transfer in $$$ and the deposit will be in rupee. the difference is you can bring back in $$$ at the then $$$ conversion rate
FCNR - You deposit in $$$, the money will grow in $$$ and can bring back in $$$ |
Nsk9876
Pilla Bewarse
Username: Nsk9876
Post Number: 595
Registered: 07-2010
Posted From: 198.204.133.208
| | Posted on Thursday, June 09, 2016 - 11:09 am: |
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Vunndi two types eee... NRE and NRO.... NRI type account ledu... |
Bewarseraj
Pilla Bewarse
Username: Bewarseraj
Post Number: 259
Registered: 11-2014
Posted From: 67.148.64.6
| | Posted on Wednesday, June 08, 2016 - 11:43 am: |
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Blazewada:
thanks annai
first time chavidithe ardham ayyinatu undi gani malli chadivithe ardham kalee  |
Blazewada
Celebrity Bewarse
Username: Blazewada
Post Number: 27250
Registered: 08-2008
Posted From: 116.88.82.203
| | Posted on Wednesday, June 08, 2016 - 11:39 am: |
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also refer here, well tabulated
http://www.hsbc.co.in/1/2/personal/nri-services/compare-nr-accounts
जिसको ढूंढे बाहर बाहर - वो बैठा है भीतर छुप के
|
Bewarseraj
Pilla Bewarse
Username: Bewarseraj
Post Number: 258
Registered: 11-2014
Posted From: 67.148.64.6
| | Posted on Wednesday, June 08, 2016 - 11:38 am: |
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Gaali:
India lo nenu direct ga na patha salary act ki pampisthunaa i don't have nro account also
am i missing anything here |
Blazewada
Celebrity Bewarse
Username: Blazewada
Post Number: 27249
Registered: 08-2008
Posted From: 116.88.82.203
| | Posted on Wednesday, June 08, 2016 - 11:37 am: |
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Know the difference between NRE and NRO account
Many NRIs are often faced with the situation of maintaining a Rupee account in India.
There are two options available with NRI interested in opening bank account in India - NRE or NRO account.
A Non-Resident Indian is often faced with the situation of maintaining a Rupee account in India.
Primarily there are two reasons for opening such account: NRI wants to repatriate overseas earned money back to India and/or NRI wants to keep India based earnings in India.
NRI has the option of opening a Non Resident Rupee (NRE) account and/or a Non Resident Ordinary Rupee (NRO) account.
An NRO account can also be opened by a Person of Indian Origin (PIO) and an Overseas citizen of India (OCI).
Similarities between NRE and NRO accounts:
Both accounts can be opened as Savings as well as current accounts and are Indian Rupee accounts.
One needs to maintain an average monthly balance of Rs 75000 in both NRE and NRO accounts.
The Differences between NRE and NRO accounts:
1. Repatriation: NRE account is freely repatriable (Principal and interest earned) while the NRO account has restricted repatriability i.e permitted remittance allowed from NRO is up to USD 1 million net of applicable taxes in a financial year after giving undertaking along with a certificate from a chartered accountant.
2. Tax Treatment: NRE account is Tax free (no Income tax, wealth tax and gift tax) in India. On the other hand the interest earned in NRO account and credit balances are subject to respective income tax bracket and are also subject to applicable wealth and gift tax.
3. Deposit of Rupee funds generated in India: If an NRI/PIO/OCI is earning income originating in India (such as salary, rent, dividends etc.) he/she is only allowed to deposit it in NRO account. Deposit of such earnings is not permitted in NRE account.
4. Joint Holding: NRE account can be iointly held with another NRI but not with resident Indian. On the other hand NRO account can be held with NRI as well as resident Indian (close relative) as defined under Section 6 of the Companies Act 1956. Choose NRE accounts if you: (Primary reason) want to park your overseas earnings remitted to India converted to Indian Rupees; want to maintain savings in Rupee but keep them liquid; want to make a joint account with another NRI; want Rupee savings to be freely repatriable Choose NRO account if you: (Primary reason) want to park India based earnings in Rupees in India; want account to deposit income earned in India such as rent, dividends etc; want to open account with resident Indian (close relative)
जिसको ढूंढे बाहर बाहर - वो बैठा है भीतर छुप के
|
Gaali
Celebrity Bewarse
Username: Gaali
Post Number: 45796
Registered: 03-2004
Posted From: 131.247.54.65
| | Posted on Wednesday, June 08, 2016 - 11:29 am: |
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NRI teleedu
NRE/NRO is common. India lo mee account lo dabbulu deposit cheyyalante you need an NRO account. Tax savings avi untai. Over to MF saab for detailed info.
Be Positive!
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Bewarseraj
Pilla Bewarse
Username: Bewarseraj
Post Number: 257
Registered: 11-2014
Posted From: 67.148.64.6
| | Posted on Wednesday, June 08, 2016 - 11:25 am: |
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deeni meda konchem light veyandi annai.. edi betteruu and process enti from savings angle |
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