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Nre fd status on return to india


nisha k (article assistant)     28 May 2020

nisha k
article assistant 
 6 likes  97 points

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can nre fixed deposit remain as is till maturity even after the person returns to India permanently.if yes then the interest on such FD will be exempt or taxable?

avater

Asha Kanta Sharma (Manager - Finance & Accounts)     29 May 2020

Asha Kanta Sharma
Manager - Finance & Accounts 
 105 likes  5137 points

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Interest on Fixed Deposit is fully taxable in India. 

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Rohit Tulshyan   29 May 2020

Rohit Tulshyan

 10 likes  156 points

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When you return to India permanently, you will be required to designate the NRE accounts as “resident" or transfer it to Resident foreign currency accounts and the interest income earned on the same will be taxable in India.

The exemption is only for person resident outside India.

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