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Taxability of nre fixed deposit on nris return to india

Tax queries 497 views 1 replies

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.

Replies (1)
Yes he will be required to declare that income since he is no more an NRI.


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