Dear Experts,
Could you pls guide to clear a confusion with regards to NRI bank account ; considering my current status of living in abroad..
1. I was sent abroad by my employers since 2008 for a training project; while my Indian employment stuatus is still running in India; meaning I regularly get my monthly salary in India. ( and a stipend abroad)
2. Out of my income in India ; I am still filing for IT returns regularly.
3. My current assignment would run till 2013; upon which I might return back to India to continue my original assignement in India.
4.Under my current circumstances as explained above there's "No indication of an intention for an uncertain duration of stay abroad"---which is an essential element to qualify as an NRI.
Considering the above facts; could some body guide
a) If I could still open an NRE account to channelise my earning from abroad to some investment in India? if yes; then which is more suitable for me : NRE or NRO ; considering the fact that I might return back to India after 2012.
b) If not through NRE/NRO account ; which are the other channel through which I can remitt money regularly and continue investing in India through my domestic bank online account?
c) From a regulation stand point; is it allowed for an NRI to keep any domestic bank account running in India?
Appreciate any of the experts available in this forum could guide me.
Many thanks.
Bharadwaj
Could you pls guide to clear a confusion with regards to NRI bank account ; considering my current status of living in abroad..
1. I was sent abroad by my employers since 2008 for a training project; while my Indian employment stuatus is still running in India; meaning I regularly get my monthly salary in India. ( and a stipend abroad)
2. Out of my income in India ; I am still filing for IT returns regularly.
3. My current assignment would run till 2013; upon which I might return back to India to continue my original assignement in India.
4.Under my current circumstances as explained above there's "No indication of an intention for an uncertain duration of stay abroad"---which is an essential element to qualify as an NRI.
Considering the above facts; could some body guide
a) If I could still open an NRE account to channelise my earning from abroad to some investment in India? if yes; then which is more suitable for me : NRE or NRO ; considering the fact that I might return back to India after 2012.
b) If not through NRE/NRO account ; which are the other channel through which I can remitt money regularly and continue investing in India through my domestic bank online account?
c) From a regulation stand point; is it allowed for an NRI to keep any domestic bank account running in India?
Appreciate any of the experts available in this forum could guide me.
Many thanks.
Bharadwaj