Nre fd status
This query is : Resolved
07 October 2014
Dear Sir,
An NRE having FD in NRE Account for 10 years. But if he comes back to india within 3 years. What will be treatment with FD. Do he has to pay income tax on maturity??
Please advice.
An NRE having FD in NRE Account for 10 years. But if he comes back to india within 3 years. What will be treatment with FD. Do he has to pay income tax on maturity??
Please advice.
Nikhil Kaushik
(Expert)
08 October 2014
yes...once your tax status shifts to "Resident", the interest becomes taxable...
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