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Nre fd status on return to india
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?
Replies (2)
Interest on Fixed Deposit is fully taxable in India.
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.
The exemption is only for person resident outside India.
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