![]() Only interest is fully repatriable after tax deduction. Principal and interest are fully repatriable. In addition to the interest taxed in India, the interest earned may also be subject to tax in the country of residence of the customer.Tax is currently deducted at source at 30% +CESS, subject to DTAA. Interest earned on this account is taxable in India.However, interest earned may be subject to tax in the country of residence of the customer.Likewise balances held in such accounts are exempt from wealth tax. Income from interest on balances standing to the credit of NRE Accounts is exempt from Income Tax. ![]() With two or more NRIs/ PIOs or with a resident relative on 'former or survivor' basis as Power of Attorney holder.Ĭalculated on daily balances and paid quarterly ![]() Useful to manage your income earned in India such as rent, dividends, pension.įunds can be transferred from overseas or any other NRE/FCNR account with any bank in India.įunds can be transferred from overseas/domestic bank account in India**/NRE/NRO/FCNR account with any bank in India.Useful for your foreign income earned outside India to earn tax-free interest. ![]()
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