I am living abroad for 19 years with whole family, always kept my savings with relatives, money received from selling own house, my mothers retirement money and my own saving in cash, hoping that one day when we move back to India will use that money to settle any where and the way we want but with new circumstances relatives don't want to keep money can I let them deposit to my NRI account and do I have to pay tax?Also I have issue with Netherlands Passport expired on 2nd nov. which will take a month to renewm so is possible that I can open under my wife's name and deposit money?

NRIs are eligible to deposit their Rs. 500 & Rs. 1000 notes in their NRO account in India. Please bear in mind that the deposit limit may vary and the bank may require an ID as well as PAN card or passport to deposit. You may even end up paying taxes unless you can prove that the money you have is tax-deffered. Once the money is in your NRE account and the proof is submited, you can then tranfer it over the NRE account and repatriate it back. If you are an US Resident, you can account double taxation, in case if you end up paying the tax, by acquiring Form 6166 - Certification of U.S. Tax Residency from IRS and then submitting it in India.

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