https://www.taxtmi.com/acts?id=20779 Non-Resident (External) Rupee Accounts allow eligible NRIs and PIOs to maintain rupee accounts in various forms with authorised banks, permitting credits from remittances, foreign currency instruments presented in India, transfers from NRE/FCNR(B) accounts, interest, certain income and investment proceeds, and other RBI permitted credits; debits may include local disbursements, remittances abroad, transfers and permissible investments. Loans against NRE fixed deposits are allowed subject to specified usage, security and RBI directions. Interest income and balances are exempt from income tax and wealth tax and transactions are reportable to the Reserve Bank. en-us Thu, 07 Apr 2016 12:02:56 +0530 Mon, 16 Jun 2025 18:14:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20779 Non-Resident (External) Rupee Accounts allow eligible NRIs and PIOs to maintain rupee accounts in various forms with authorised banks, permitting credits from remittances, foreign currency instruments presented in India, transfers from NRE/FCNR(B) accounts, interest, certain income and investment proceeds, and other RBI permitted credits; debits may include local disbursements, remittances abroad, transfers and permissible investments. Loans against NRE fixed deposits are allowed subject to specified usage, security and RBI directions. Interest income and balances are exempt from income tax and wealth tax and transactions are reportable to the Reserve Bank. Act-Rules FEMA Thu, 07 Apr 2016 12:02:56 +0530 https://www.taxtmi.com/acts?id=20779