Dear Sir,
NRE account means Non Resident External account. Your son has to open this account with any Indian Bank. This can be done by him online from Dubai. The money remitted in this account from abroad wherever he is working/or going to work in future is exempted from tax in India but if the amount reaches to high propositions earning more than Rs. 200,000 interest then only it is taxable. Besides, the money deposited in to this account from abroad through legal channels can be repatriated also.
Money can be transacted through net banking as well all the payments and transfers can be done through online that your son will easily understand and learn within no time.
Best Regards and wishing him a great career.
B.J. Shastry Supply Support Service Systems Co Ltd (4S CTPL DIVISION) P.O. Box 1557 Al Khobar. KINGDOM OF SAUDI ARABIA TEL 00966 3 865 3872 FAX 00966 3 898 6749 MOB 00966 506052663
From: "'Sujoy Datta' sujoy.datta@rp-sg.in [worldmalayaliclub]"
To: worldmalayaliclub@yahoogroups.com
Sent: Monday, April 4, 2016 11:39 AM
Subject: RE: [World Malayali Club] NRE NRO Bank a/cs
Hello Friends,
My son is working in an Indian IT company in Dubai. He gets his entire Indian salary in Dirhams and also gets local allowances in Dirhams. He wants to transfer some foreign currency earned in Dubai to India. What kind of account should he open in ICICI/HDFC bank in India, NRE or NRO ?
I would appreciate your valued suggestions/advices.
Sujoy Datta
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Posted by: ramana shastry <shastryjb@yahoo.com>
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