The difference between NRE and NRO accounts

There are two options an NRI interested in opening a bank account in India can choose from – an NRE or an NRO account. Are you an NRI keen on getting a bank account opened in India? Then it would be advantageous to know how these two types of accounts differ and which one is right for you.

The Government of India has permitted NRIs to open rupee accounts in India in order to repatriate funds from their home countries. The two most common accounts are the NRE and NRO accounts. Let’s take a closer look at them.

What’s an NRE account?
A Non-Resident External (NRE) account is a bank account that’s opened by depositing foreign currency at the time of opening a bank account. This currency can be tendered in the form of traveler’s checks or notes.

What’s an NRO account?
A Non-Resident Ordinary (NRO) account is the normal bank account opened by an Indian going abroad with the intention of becoming an NRI. An NRI can also open this account by sending remittances from his home country or by transferring funds from his other NRO account. It offers the same facilities as an NRE account, except that any repatriation done through this account should be reported to RBI by filling up prescribed forms.

How do NRE and NRO accounts differ?
Funds remitted from overseas sources or local funds that would otherwise have been sent to the accountholder abroad can instead be transferred to NRE Accounts. On the other hand, local funds that aren’t eligible to be remitted abroad must be credited to an NRO account.

Can you transfer funds fromanNREto anNROaccount and vice versa?
It’s easy to transfer funds fromanNREto an NRO account. But it’s not possible to transfer funds from an NRO account to an NRE account. Once you transfer funds fromanNREtoanNRO account, the amount is non-repatriable. Consequently, you cannot transfer it back.

What’s the difference in the tax treatment for interest earned on an NRE and an NRO account?
The interest earned on any type of NRO bank as well as the credit balances in this kind of account are taxed under the account holder’s tax bracket. On the other hand, interest earned on the NRE account is totally exempted from income tax, and the credit balances in the account don’t attract any wealth tax. Any gift given to a close relative doesn’t attract gift tax

Technical support - Digital Signature use

Errors while signing on the form

Error message: Signer's identity unknown" (Shows a "?" mark) while signing the PDF document.


Solution: The message you get because Adobe software do not have the trust root certificate of CCA & TCS. You can go ahead and upload this file the MCA application will take care of the same. Incase you want to resolve this please follow the steps below.
Right click on the box with your signature in the eform and select "Properties".
A wizard will open up, Click on "Show Certificate" button .
On the right side top select "Trust" Tag.
You will see Red Cross mark against each settings.
Click on "Add to Trust Identities" button.
A adobe security message will come up , click "OK"
Under Trust Settings Check all the check boxes and click "OK"
Click on "Verify signature" button on the fist window and click "OK"
For further assistance please log the complaint ticket on MCA portal (Link below) http://www.mca.gov.in/DCAPortalWeb/dca/MyMCALogin.do?method=setDefaultProperty&mode=23
Error message: "Digital Signature Verification failed or Your CA is not Trusted" or Getting email id as "helpdesk@tcs-ca.tcs.co.in" or Windows has blocked this software because it can't verify the publisher Name: Assure SignContorl.Cab :Publisher:Unknow publisher on MCA portal.


Solution: Check whether the trust chain installed along with the certificate .If not, install the trust chain as per the below mentioned path.
Visit our TCS-CA web site: https://www.tcs-ca.tcs.co.in> click on Current certificates Under CA certificates> and click on each certificate(CCA2007 &TCSCA)> open>and install the same by clicking "Install certificate" until import was successful.
Once the same is completed then follow below instructions .Please note that the same has been sent by MCA .Hence, try the same once and if you are still facing the problem ,contact MCA help line on email id "appl.helpdesk@mca.gov.in" for further assistance.

Ensure that you are logged-in to the computer as 'Administrator' and 'ActiveX' control settings in 'Internet Explorer' are enabled, as per steps given below:
Open 'Internet Explorer' >Tools > Internet Options > Security.
Click "Internet" and change the Security Settings to "Medium".
Click "Custom Level" Button.
Enable the "Download Signed ActiveX controls" option.
Enable the "Run ActiveX controls and Plugins" option.
Enable the "Script ActiveX controls marked safe for scripting" option.
Enable the "Download unsigned ActiveX controls" option.
If all the settings are enabled and you have administrator rights then a control should get downloaded on your machine on accessing the Register DSC facility for Director or Manager/Secretary or Practicing Professional. You can check for the same by
1. Open Internet Explorer
2. Tools->Internet Options
3. General->Settings->View Objects
A control named 'AssureSignControl Control' should be present. If it doesn?t exist then it implies that admin rights are not set on your profile.
Please contact your local administrator for the same.
Error Message: Creation of the signature could not be completed :Platform exception, Key does not exists, 2148073494


Solution: Please call us on below mentioned no?s for further assistance in this regard
Toll free: 18004252922 and direct Line 040-6667 3524/25/26.
Error message :
1. The following signatures on the form are not valid :Director/Manager/Managing Director. OR
2. Following errors have occurred in the prescrutiny. Please click to view the errors :
Signature validation failed for signature field for practicing professional. The person is not authorized to sign on this field. OR
3. Creation of this signature could not be completed Error encountered while signing:
Platform exception,Bad UID Error code: 2148073504
Platform exception,Access denied Error code: 2148073488



Solution:Please raise a support ticket on MCA portal (Link below)
http://www.mca.gov.in/DCAPortalWeb/dca/MyMCALogin.do?method=setDefaultProperty&mode=23
You can also mail to appl.helpdesk@mca.gov.in for further assistance in this regard.
Error Message: The windows Cryptographic Service Provider reported an error:The keyset is not defined.Error code:2148073497


Solution: Need to check whether the certificate is present along with the exchange key& corresponding root certificates and smart card is started. If yes then please contact MCA help line for further assistance in this regard.
Error Message:Platform exception.Cannot find the certificate and private key for decryptionError Code:2148081675


Reason : The above error occurs if the certificate does not have the exchange key

Solution: Need to check whether the certificate is present along with the exchange key& corresponding root certificates. If yes then there is no problem at the certificate and please contact MCA help line for further assistance in this regard.
Error Message:Creation of the signature could not be completed Platform exception.The operation requires a smart card,but no smart card is currently in the device. Error code:2148532236


Reason : The above error would occurs if the smart card services is not enabled

Solution : If you are using the certificate from any USB Token. Please ensure that same is plugged in token to USB port and check whether the Smart card services is started. Check accordingly and proceed further.
Error message on IT portal :
1. You might not have inserted the USB Token
2. Capicom.dll is absent on your system32 directory
3. No supported drivers installed on your system
For 2&3 Contact your System/Token vendor.


Solution: Please contact us on below mentioned no's for further assistance in this regard.
Toll free: 18004252922 and direct Line 040-6667 3524/25/26.
Error message: The message contents may have been altered would occur while verifying the signed mail at recipient end.


Solution:This message occurs if more text is added or removed from the mail content after signing.
For ex: Some of the mails at the bottom will have "DISCLAIMER" .Actually ,this Disclaimer is attached from the server side to the signed message and it will be added after the signing is completed . So, at the recipient end, while verifying the signed mail, this error would occur since the text "DISCLAIMER" has added after mail is signed.
Error Message: "Signature is Null" on NSDL Portal while logging by using Digital signature certificate.


Reason: Please check with NSDL whether the serial number of the certificate which you are using is mapped to the corresponding Login Id which is used for login on NSDL portal.
Error message : You do not have a valid digital certificate. Please get a Digital Certificate from a CCA approved Certification Authority.


Solution: If the certificate that you are using is a renewed one then ensure that the certificate details have to be updated on IREPS site before using the same. If not then find the below instructions for the error encountered.
Ensure that need to perform the below instructions on the system from where the certificate is being used for IREPS activities.
you have to check whether the certificate is present under personal tab of IE browser [Path to check the certificate in IE browser : Tools> Internet options>content>certificates>personal ] [If you have the certificate in any USB Token then ensure that need to plug-in the same to USB port of the system.]
Need to check whether the same certificate is also present in Other people tab of IE browser [Path to check the certificate in IE browser : Tools> Internet options>content>certificates> Other people]
Need to check the security settings as given on IREPS homepage by clicking on "system Settings" Under "Resources".
Check the date format of the system by following mentioned path
Under control panel>Click on Regional & languages>Click on Customize>Click on Date>where check the date format against Short date format .Same should be M/d/yyyy.

Once you check all the settings then try to register/ place the tender on IREPS portal. Incase if the problem still persists then contact IREPS for further assistance in this regard.
Error message : "Unable to retrieve the Signature" / "Please use the same digital signature certificate which has been attached to your profile" on IREPS Portal


Solution : Please check the below instructions.
Check at the certificate end whether everything is fine (i,e certificate is with in the validity period, exchange key and valid trust chain (i,e TCS & CCA) ,certificate category (i,e Class-III-Company) and appearing under Personal tab of IE browser)
Same Certificate is in Other people tab of IE browser
Check the security settings as given on IREPS homepage by clicking "system Settings" Under "Resources".

Error message : Welcome to Indian Railways E-Procurement System. Your request for registration to www.ireps.gov.in can not be accepted due to the following reason(s)
1. Company/Firm name already exists.
2. Company/Firm name and user name in digital signature and your request does not match.
3. Digital signature attached by you are not Class III type with Company/Firm name as per stipulation of IREPS system.
4. Digital signature attached by you is not valid.
You may take further corrective action and can submit your request for registration afresh.


Solution: Please check the above all instructions whether you are following accordingly. If yes and even though , facing the problem then need to check below conditions.
Check the security settings as given on IREPS homepage by clicking "system Settings" Under "Resources".
Have the valid certificate in both personal & other people tab of IE browser
Control panel>Click on Regional and Language options>Click on Customize>Click on Date>In the Short date format field , the date format should be M/d/yyyy.

Error message: "Signing Failed Reason" while placing the tender on DGS & D portal


Solution : Access the site : http://dgsnd.gov.in >Click on Indentor's Page >Click on Click Here(E-Lock software) This solution would solve the problem. Incase the problem still persists then please contact concerned e-tender for further assistance in this regard.
Error message: Your Machine is Not Ready for Certificate Mapping on NALCO e-tender


Solution : Need to check the security level whether it is medium and all active x controls & plug-ins are enabled under Tools>Internet options>security>Custom level of IE browser. If not make the changes and once the changes are done then you would be asked for installing a control. So, do install the same and once it is done then try to use the certificate on said e-tender
Error message: PKI Based security "Sorry Authentication failed" on https://www.tenderwizard.com portal.


Solution : If you are using the certificate from any USB token then need to check whether the correct password is provided to token. If yes and even though getting the problem then request you to check with the concerned e-tender if the corresponding certificate SRNO need to be mapped to the user id with which you are logging on said portal.

Others

Error Message : "Records not available" after logging on TCS-CA webporta.


Reasons & Solution:
You must be trying to access the records with the wrong User-Id. Solution: Check the user id that you are using is the same as the user id when you registered for Digital Signature certificate request.
If renewal request has already been placed under renewal link.
If you are trying to renew the certificate 30 days before & after expiry of the certificate since renewal link on TCS-CA web portal will only be available exactly 30 days before and after from the date of expiry of the certificate including time.
Please check the above all mentioned reasons and proceed further.
Error Message: Certificate got generated with wrong Email-Id which was given at the time of enroll


Solution: Once the certificate is generated the details cannot be changed. The Authentication PIN mail is an automated one and can be sent only to that email-ID provided during online enrollment. Hence, a valid email ID has to be provided during enrollment. Before the online request is generated, there is a prompt to check the email ID once again.

So, in this case solution is
Please check if the email id can be created as provided in the online enrollment.If the same is possible then you may utlilize get authentication pin for getting the authentication pin.
If the email id creation as given in the enrollment form is not possible then only solution is to revoke the existing certificate and apply for a fresh certificate on a chargeable basis.

Error Message: Authentication failed.


Solution: This error happens in two situations.
If you give wrong User ID or password for during Member Login on TCS-CA web portal. In this case, you may please contact your Registration Authority for resetting password of User ID member login.
If you give wrong password while logging into the token.In this case , It is advised that not to access the token with the wrong password since token will be blocked after maximum no. of attempts. Hence, please contact you Registration Authority whom did you approach for obtaining the certificate for further assistance in this regard.

Error message :You may have disabled Active X controls (Object Error)


Solution : In Internet Explorer (IE)browser, Tools>Internet options>security>select Trusted sites>Click on Sites> where add the TCS-CA site https://www.tcs-ca.tcs.co.in in the box provided (I.e. Add this website to the zone). Now click on Add and close

Now again, Under Tools>Internet options>security>Select trusted sites>Click on Custom level of IE browser. Set the Reset custom settings to Medium then click on "Reset" > Click yes on the pop box. Check whether all activeX controls are enabled. If no, then make all the activeX controls enable. click on OK > Click yes on the pop box.

Please find the below procedure to install the cab file
Download the TCSCADataSigner.cab file from link http://www.tcs-ca.tcs.co.in/controls/TCSCADataSigner.cab and save on your machine.
Extract all the files to a loation.
Go to Start -> Run
Type regsvr32 <> at the command prompt.
<> needs to be replaced by the full path to the ocx.
For example: If you have saved TCSCADatasigner.ocx in C drive,then type the following at the command prompt:regsvr32 c:\TCSCADatasigner.ocx