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Jagadish (Manager)     11 January 2015

Income tax quarry for nre deposits

NRE fixed deposit interests are non taxable. If NRI returns to India and changes Status to RONR (Resident but not Ordinary Resident) for two years. NRE deposits maturing after return to india can be retained as NRE deposits till maturity. The Question is whether the interest received on this deposit is taxable  and need to be considered for tax purposes ?

 

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