EASYOFFICE
EASYOFFICE

Nre fd status

This query is : Resolved 
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(Querist)
07 October 2014 Dear Sir,
An NRE having FD in NRE Account for 10 years. But if he comes back to india within 3 years. What will be treatment with FD. Do he has to pay income tax on maturity??

Please advice.
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
08 October 2014 yes...once your tax status shifts to "Resident", the interest becomes taxable...

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