Hello friends
Will be really grateful if anyone can answer this query. I have an NRI client who has returned to India for good. He has NRE fixed deposits & he plans to continue those deposits till maturity, which is allowed under FEMA. We've checked with the bank & the bank will not deduct any TDS on it, even if the residential status is re-designated as resident.
However, my question is what will be the tax liability of client in respect of that interest, as from this year he is no more a non-resident.
Thanks a lot in advance.
CAclubindia
