https://www.taxtmi.com/acts?id=20782 Special Non-Resident Rupee Account (SNRR account) allows non-residents with business interest in India to open INR accounts with authorised dealers for permissible current and capital account transactions, including specified INR transactions such as investments, imports, exports, trade credit, ECB-related lending, and IFSC-related business. Accounts must bear specific business nomenclature, may be segregated by transaction category, shall not bear interest, must not facilitate provision of foreign exchange to residents against rupee reimbursement, and must be commensurate with business operations. Balances in India are eligible for repatriation; transfers from NRO to SNRR are prohibited; transactions are taxable; redesignation to resident account is permitted on residency change; certain nationals/entities require Reserve Bank approval. en-us Thu, 07 Apr 2016 12:04:24 +0530 Sat, 28 Jun 2025 10:31:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=20782 Special Non-Resident Rupee Account (SNRR account) allows non-residents with business interest in India to open INR accounts with authorised dealers for permissible current and capital account transactions, including specified INR transactions such as investments, imports, exports, trade credit, ECB-related lending, and IFSC-related business. Accounts must bear specific business nomenclature, may be segregated by transaction category, shall not bear interest, must not facilitate provision of foreign exchange to residents against rupee reimbursement, and must be commensurate with business operations. Balances in India are eligible for repatriation; transfers from NRO to SNRR are prohibited; transactions are taxable; redesignation to resident account is permitted on residency change; certain nationals/entities require Reserve Bank approval. Act-Rules FEMA Thu, 07 Apr 2016 12:04:24 +0530 https://www.taxtmi.com/acts?id=20782