What do you use NRO/NRE account for?
Can you open one on H1B?
I use my NRO account to pay 30%TDS on any interest I earn. That tax then goes to Ambani/Adani and such crony capitalists via Modi and his government. I cannot think of a better way to help the poor people in need.
U can claim tax refund ... though I have yet to get from 2yrs back refund ...
But I heard that if you are paying income tax in Us then you no need to pay in india ... please correct me
I am planning to open one this year. It’s my understanding that income tax on your salary would likely have to be paid in the US. However, interest from an NRO/NRE account will likely be significant enough to qualify for tax as well. Where do you pay the tax on interest income? India or US?
Income in india is taxable in us but if you pay taxes in india they get subtracted. That said its best to hire tax advisor as tax with indian stocks and accounts is quite complicated
Yes you can.