If you've converted your NRE account to a resident savings account this financial year but need to file your previous year's Income Tax Return (ITR), you should declare the account under its previous 'NR' status. You can declare the interest earned from the NRE account under Schedule EI. It's important to declare the account even if its status has changed, as long as the interest income has been accounted for.
30 July 2025
I held an NRE account last financial year. I converted it to resident savings account this financial year. I am not able to find the type NRE in the IT portal. Portal has NRO though. What should i do in this case? Should i add it as savings account?
30 July 2025
Actually sir, last financial year it was a NRE account. The status changed in current financial year only. My NRO account also has been changed to savings but since it was NRO in last financial year, I have marked as NRO for last financial year. I am worried about the status mismatch, since i am filing last financial year ITR so it should be NRE?
30 July 2025
Not to worry for the change of status in current FY. You have to file Last year's ITR under NR status, where you may declare the interest from NRE account under Schedule EI.
30 July 2025
Thank you sir. Should i declare the NRE account which i changed to savings this financial year as savings account or just skip the declaration. I have added the interest income in the ITR. Just confused about the bank account as there is no type.