Treatment of FCNR and NRE interest earned post becoming a Resident

This discussion clarifies the tax implications for Non-Resident Indians (NRIs) who become residents and hold FCNR and NRE deposits. It addresses whether the interest earned on these deposits needs to be included in taxable income for Assessment Year 2022-23. The consensus is that interest on NRE accounts is taxable, while interest on FCNR accounts is generally tax-free, though specific conversion rates for inclusion might apply if taxable. Guidance is also provided on ITR disclosure requirements.