NRI Business

Which of the following is not true with regard to NRE account?

• Income from interest on balances held in NRE accounts is exempt from Income Tax in India

• This account is maintained in Indian Rupees only

• Cash can be credited to these accounts

• These accounts are opened for the purpose of depositing income earned overseas

What is the maximum period of Term Deposit under NRO account?

• 15 Years

• 10 Years

• 20 Years

• 5 Years

FCNR Deposits can be maintained in ______ different currencies .

• 8

• 6

• 10

• 12

Which of the following is not true with regard to NRO account?

• These are Rupee accounts opened for the purpose of depositing income earned in India

• The account is maintained in Indian Rupees

• Tax is deducted on interest earned on all types of NRO accounts

• Funds are freely repatriable without any restrictions

which account can be opened in Foreign Currency by returning NRIs?

• NRE SA

• FCNR

• RFC

• NRO SA

What is the maximum tenure for FCNR Deposit ?

• 10

• 5

• 3

• 15

Which of the following is not true with regard to FCNR account?

• This is a kind of fixed deposit account opened for depositing income earned overseas.

• The account is held in foreign currency

• Funds held in FCNR deposit and interest earned on the funds are fully repatriable

• Interest is payable at quarterly intervals only

What is the minimum period of RFC FD account?

• 7 Days

• 5 years

• 1 year

• 2Years

Mandate holder facility is not available in which of the following accounts?

• NRE

• NRO

• FCNR

• RFC

In case of RFC FD, which of the following options is correct?

• All options are correct

• Income from interest on balances standing to the credit of RFC FD Accounts is subject to TDS

• In a premature withdrawal scenario, if withdrawn before the completion of a year, no interest is payable.

• Interest is compounded half yearly