r2i forum

:) Thanks for your help and time, appreciate it.

[quote=Desi;26250]OP, [COLOR=red]To my knowledge, you can keep your [B]US bank account open[/B] without permission from RBI.[/COLOR] As an Indian resident you will be taxed on global income and hence any interest earned in the US accounts will have to be declared on your Indian tax returns and taxes ...

Thank You Desi, for your help.

Whew! that makes me better. I was seaching high and low through the RBI website for forms that is used for declaring foreign currency accounts...

[quote=insane;26226]Since 2004, you are allowed to keep a foreign account open. However, the Income tax rules that after 6 months of becoming a resident in India, all foreign accoutns should be closed (any funds brought in after that will be treated as income in India and taxed).[/quote] a) since ...

[B]Thanks in advance[/B] to this excellent and well informing forum! I am a GC holder and have returned to India. To maintain my GC, I have my bank accounts in the USA remain open(along with paying taxes etc.,) but are almost dormant. [B]Question is[/B]: Should I require any permission from the RBI ...