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What are the admissible debits and credits to NRE accounts?

April 26, 2017accounts admissible Credits debits NRE

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What are the admissible debits and credits to NRE accounts?

6 Answers

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Debits for local payments/investments are allowed freely. Credits to an account, of funds emanating from a local source would be permissible only if the funds are of a repatriable nature i.e. eligible to be remitted abroad.

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Debits for local payments/investments are allowed freely. Credits to an account, of funds emanating from a local source would be permissible only if the funds are of a repatriable nature i.e. are eligible to be remitted abroad.

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Ans. No.Funds held in NRSR account cannot be repatriated.Further under no circumstances funds held in NRSR account irrespective of their sources should be transferred to NRO / NRE / FCNR account.

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Debits for local payments/investments are allowed freely. Credits to an account, of funds emanating from a local source would be permissible only if the funds are of a repatrible nature i.e. eligible to be remitted abroad.

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Ans. Debits for local payments/investments are allowed freely. Credits to an account, of funds emanating from a local source would be permissible only if the funds are of a repatrible nature i.e. eligible to be remitted abroad.