NRE account vs NRO account: How interest income is treated under income tax laws

  • November 29, 2021
  • CA Chandan Agarwal's Office
  • Up to 1 USD million can be remitted every financial year from your NRO account, after paying applicable taxes in India.
  • Money in NRE account is fully repatriable outside India

My son went to US last month to take up an employment and thus has become a non-resident under FEMA. Does he have to open an NRE account? How an NRO account is different from an NRE account?

Source: https://www.livemint.com/money/personal-finance/nre-account-vs-nro-account-how-interest-income-is-treated-under-income-tax-laws-11637982972996.html
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