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Interest exemption on NRE/FCNR accounts allowed for temporarily repatriated non-resident Indians maintaining accounts abroad; continuity permitted. Interest on amounts deposited in NRE and FCNR accounts is exempt for persons retaining non-resident status; individuals normally resident in Kuwait who returned as a direct consequence of the invasion and who continue to maintain NRE/FCNR and foreign currency accounts under the Reserve Bank's temporary permission are eligible for the interest exemption in respect of such accounts maintained during the permitted period.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Interest exemption on NRE/FCNR accounts allowed for temporarily repatriated non-resident Indians maintaining accounts abroad; continuity permitted.
Interest on amounts deposited in NRE and FCNR accounts is exempt for persons retaining non-resident status; individuals normally resident in Kuwait who returned as a direct consequence of the invasion and who continue to maintain NRE/FCNR and foreign currency accounts under the Reserve Bank's temporary permission are eligible for the interest exemption in respect of such accounts maintained during the permitted period.
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