What are the major foreign currency accounts that can be opened in India by a resident individual?
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....s Foreign Currency (EEFC) Account Resident Foreign Currency (Domestic) [RFC(D)] Account Resident Foreign Currency (RFC) Account Who can open the account Exchange Earners Individuals Individuals Joint account Jointly with eligible persons; or With resident relative(s) on former or survivor' basis. Relative as defined under Companies Act, 2013 (viz. members of HUF, spouse, pare....
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..../ lecture fees, honorarium and similar other earnings received by a professional by rendering services in his individual capacity 6) Interest earned on the funds held in the account 7) Re-credit of unutilised foreign currency earlier withdrawn from the account 8) Payments received in foreign exchange by an Indian startup arising out of sales/ export made by the startup or its overseas subsid....
TaxTMI
TaxTMI