Student interning abroad taxation

Shubham Kapoor (1 Points)

16 January 2017  

Dear Team, I started my masters in Finland from August 2015, Before it (June 2012-August 2015) I was working in Reliance Industries and paying my regular taxes, I have some savings from this job which is parked as FDs in my Indian saving bank account, interest of which is less than 2.5 lacs per annum. I left India in August 2015 and started my masters in Finland. Now, I am doing internship in Finland and have some savings from internship, to which i am thinking to send back to india (I have paid taxes on this income in Finland) and make FDs in my Indian saving bank account. My questions are
1) Is it allowed for me to transfer my savings in Finland to my saving bank account in India without converting it to NRO account
2) If it is necessary to convert my saving bank account to NRO account, What happens to my previous FDs which i made using money which i earned in my last job which was done in India during year 2012-2015

I am bit scared of 30% taxation of NRO account hence want to skip that complexity