3 min read.Updated: 14 Jan 2022, 12:58 PM ISTCA Nitesh Buddhadev
NRE/NRO accounts are used by NRIs to deposit their foreign earnings
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If you or your immediate family members are going abroad for studies, employment, etc and will be non-residents for tax purposes, then you will have to open a bank account — Non-Resident External (NRE) / Non-Resident Ordinary (NRO) account—for transacting in India. Let’s see what these accounts are.