resident but not ordinary resident (RNOR) taxation

1. Yes ......... In India.....

2. Yes........

3. Yes...... on declaration as RNRO to bank

As per Section 10(15)(iv)(fa) of the Income Tax Act, interest of foreign currency deposits in Indian Banks is exempt for non-residents and RNOR.

Refer:  1. Benefits-available-only-to-NonResident-Person

2. returning-nri-what-happens-to-your-nro-nre-and-fcnr-accounts

Firstly, you have to declare about your returning status to your bank.

You are required to close all your NRE accounts along with deposits.

But you are allowed to continue the existing NRE FDs till its maturity.

The bank representative/s will guide you  more about all such compliances, so contact Bank Manager.

YES    

My Pleasure........