POSTED BY December 6, 2014 7:14 pm NO COMMENTSON
1.Is long term NRE FDs interest is taxable if the status of client is changed from NRI to Resident before the maturity of NRE FDs.
2. Do the NRE Fds need to be closed prematurely and reopen as fresh Resident FDs or these NRE FDs will continue as it is and ony interest earned will be taxable from the date status is changed from NRI to Resident.
3. What about it loss of interest on premature closure of NRE FDs.
4. How tax on interest can be saved or paid minimal on FD in case the status is changed in between before maturity of NRE FD. 5. What are other options to save tax on NRI funds besides FD.