Do I need to pay tax on interest earned on FCNR FD, while on RNOR status and later?

Hi,
I will be coming back from US to India permanently. Whatever I earned, I have it in my US bank account, which I will be investing in India. I don't want to do lumpsum, so want to convert USD to INR slowly. Maybe conversion rate will give me more INR in 2 years.
During these 2 years I will be in RNOR status. Instead of investing it in US, I will move it to FCNR FD.
- Will I need to pay any tax on interest earned from FCNR FD?
- After my RNOR status I will be ordinary resident, will I need to pay tax on interest earned from FCNR FD?
Please advice.
Thanks

Replies (1)

1. No. It will be tax exempt.

2. Yes.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details
Company
21 August 2026
Accountant

A G International

Kolkata

B.Com

View Details
Company
ARTICLESHIP 04 September 2026
Accounts Executive

Hema Yashwanth & Associates

Chennai

B.Com

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
ARTICLESHIP 29 August 2026
Article Assistant

RRPM & ASSOCIATES LLP

Chennai

CA Inter

View Details
Company
21 August 2026
Finance Manager

Resollect Technologies Pvt Ltd

Mumbai

CA

View Details
Company
ARTICLESHIP 17 August 2026
CA Article Trainee

ASC Group

Noida

CA Inter

View Details
Company
ARTICLESHIP 17 August 2026
Article Assistant

K R Kiran Kumar & Associates

Bengaluru

CA Inter

View Details