Section

NRI status: Income tax rules for PPF and savings accounts explained for parents

By Livemint - a month ago
Upon becoming an NRI, a son must convert his savings account to an NRO account, while his PPF account will mature soon. Proceeds can be remitted abroad, subject to tax regulations. Filing an ITR is optional unless seeking a tax refund.

Disclaimer : Mymoneytimes implements extreme caution and care in collecting data before publication. Mymoneytimes does not liable for the adequacy, accuracy or completeness of any given information. Hence we are not liable for any kind of direct or indirect loss caused by the use of such information.