FEMA :- NRE and NRO Account Guide

 FEMA :- NRE and NRO Account Guide

   https://www.linkedin.com/pulse/fema-nre-nro-account-guide-r-v-seckar-ggcoc/

1) NRE Account is rupee denominated account, funds deposited in it must originate from foreign sources.

2) NRP Account is rupee denominated account, funds can be deposited from foreign sources and India.

3) NRO accounts are restrictive in nature

.4) Many NRI open NRO account even if they have NRE account, they do no use it often and they do in piecemeal.

5) To transfer the money from an NRO to an NRE account or to a foreign account, NRI need documentary proof of the source of funds being used for repatriation. They need to fill in form 15CA.

6) Some transactions require form 15CB and CA certificate. In many cases, only form 15CA is needed. If 15CA Part A, B or D is provided, it does not require Form 15CB or CA certificate.Form 15CB is required only in the case of Form 15CA part C

.Source: Hindustan Times