As per I-T rules, is it valid to invest in mutual funds directly from a NRE account? If it is not valid, what is the other way to invest in mutual funds?
- Anonymous
Non Resident Indians (NRIs) can invest in mutual funds through a Non-Resident (External) Rupee (NRE) Account. An NRE account can be opened with funds remitted from abroad or local funds maintained in NRE/ FCNR accounts, which can be remitted abroad. The money in the account can be used for all legitimate purposes. The balance in an NRE account is freely repatriable.