Can proceeds of foreign currency notes/ travelers cheques be credited to NRE accounts without any restriction?
A- Foreign currency notes/ travelers cheques brought by the account holder from abroad can be credited in NRE account provided they are tendered in person. Where the amount of currency notes tendered exceeds USD 5000 or its equivalent or the total amount of currency notes and TCs tendered exceeds USD 10000 or its equivalent, it should have been declared to the Customs on the Currency Declaration Form (CDF) at the time of the account holders arrival in India.
Related Questions
- Can proceeds of foreign currency notes / travellers cheques be credited to NRE accounts without any restriction ?
- Can proceeds of foreign currency notes/travelers cheques be credited to NRE accounts without any restriction?
- Can proceeds of foreign currency notes/ travelers cheques be credited to NRE accounts without any restriction?
