Which of the following account can be repatriable? A. NRE Account B. NRO Account C. FCNR(B) Account D. Both (A) and(C) E. All of the Above

1 Answer

Answer :

D. Both (A) and(C) Explanation: Non-Resident (External) Rupee Account Scheme[NRE Account] and Foreign Currency (Non-Resident) Account (Banks) Scheme [FCNR (B) Account]can be repatriable while Non-Resident Ordinary Rupee Account Scheme[NRO Account]is not repatriable except for all current income.Balances in an NRO account of NRIs/ PIOs are remittable up to USD 1 (one) million per financial year (April-March) along with their other eligible assets.

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