As residents of India, NRIs/PIOs/OCIs can open PPF accounts
30-Dec-2016 •Research Desk
I am a British citizen PIO, now a tax resident in India. I have a PPF account which was started as a resident Indian and is due to mature in March 2018. Will I be able to extend my account for the further 5 years?
-Harry
You can extend your PPF account for further 5 years period. Even if you were to become an NRI again during the extension, the PPF rules allow you to operate accounts opened when your status was of a resident Indian. However, please note that as a tax resident, you can no longer hold NRO/NRE accounts; all your bank accounts should be resident Indian savings bank accounts.
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