Skip to content
  • Tuesday, June 10, 2025
  • Contact-Us
  • Terms and Conditions
  • Privacy Policy for Bharat Times
Bharat Times

Bharat Times

  • Home
  • Top Stories
  • Nation
    • Defence
  • World
  • Hollywood
  • Business
    • Features
      • Mutual Funds
      • Markets
      • Most Read
      • Insurance
      • Money
  • Politics
    • Elections
  • Economy
  • Events
    • Off Beat
    • Life And Style
    • Entertainment
  • Governance
    • Hindi
  • Opinion
    • Indian Abroad
    • South
  • More
    • Education
    • Astrology
    • News
    • Health
    • In Pictures
    • Judiciary
    • Science
    • Tech
    • Sport
  • Home
  • Money
  • Are deposits in NRE accounts taxable?
Money

Are deposits in NRE accounts taxable?

May 23, 2022
Sezarr

I am a Non-Resident Indian (NRI) residing in the US and have a Non-Resident External (NRE) account with an Indian bank. What are the tax implications for starting a Fixed Deposit (FD)? Also, what if I come back to India and become a resident again?

– Name withheld on request

For NRIs, interest on deposits in NRE account is not taxable in India. However, when you decide to return to India, you will need to convert all your NRE accounts and FCNR deposit accounts into resident accounts. Once you declare your intention to reside in India and convert these accounts into resident accounts, the interest earned from NRE deposits will be taxable in India.

Is it mandatory for NRIs to declare house property abroad in their Income Tax Return (ITR)?

– Dilip Saxena

It is not mandatory for NRIs to disclose the details of assets held by them in India in the ITR filed by them. Resident taxpayers having total income of more than 50 lakh is required to report your assets and liabilities in the schedule included in the ITR.

My PPF account is maturing. Can I transfer the proceeds to buy property in the UK?

– Name withheld on request

The government had notified that a resident who later becomes a non-resident during the maturity period of a PPF account can continue to subscribe to it till its maturity. This is only allowed on a non-repatriation basis.

The government amended this notification and said that once the resident becomes a non-resident in India, the PPF account will be treated as closed and no fresh deposit can be made. However, this notification was put on hold.

Hence, as per the current scenario, a non-resident who continues to make deposits in the PPF account till maturity can do so only on a non-repatriable basis.

Archit Gupta is the founder and CEO of Clear.in.

subscribe to mint newspaper

, Enter a valid email

, Thank you for subscribing to our newsletter!

Tags: deposit, FCNR Deposit Account, ITR, NRE Account, personal Finance

Post navigation

Kirit Somaiya’s wife files defamation case against Sanjay Raut
Vinay Kumar Saxena is the new Lieutenant Governor of Delhi

Recent post

Education

Germany’s SEFE to Announce 10-Year Deal For Gas From Azerbaijan | Company Business News

June 10, 2025
Top Stories

Access Denied

June 9, 2025
Tech

WWDC 2025 Highlights: Apple Unveils iOS 26, macOS 26 and Liquid Glass UI

June 9, 2025
Off The Cuff

Access to reach

June 9, 2025

You may Missed

Entertainment

Akhanda 2: Thandavam Teaser: Nandamuri Balakrishna Shines In Fierce, Divine Avatar | Watch

June 9, 2025
Entertainment

Do you know which star couple owns Vijay Mallya’s Kingfisher Villa in Goa? Know here

June 9, 2025
Entertainment

Watch: How Anurag Kashyap shot ‘Black Friday’

June 9, 2025
Entertainment

Akhil Akkineni-Zainab Ravdjee Reception: Sobhita, Naga Chaitanya, Mahesh Babu, Suriya Attend | PICS

June 8, 2025

About us

BHARAT TIMES is an independent News Website bringing you comprehensive and unbiased news of the country and around the world. It offers round-the-clock coverage of the latest news covering day-to-day happenings, politics, the entertainment industry, social media, business, health, tech, and many more.

With its tagline “Sach Ke Sath”, BHARAT TIMES aims to keep its followers informed while staying on the path of Truth.
Stay Tuned!

Visit

  1. Entertainment
  2. SEO TOOLS
  3. World News
  4. Hindi News
  5. English News
  6. Latest News
  7. Daily Updates

Menu

  • Contact-Us
  • Terms and Conditions
  • Privacy Policy for Bharat Times

Recent Post

Education

Germany’s SEFE to Announce 10-Year Deal For Gas From Azerbaijan | Company Business News

June 10, 2025
Top Stories

Access Denied

June 9, 2025
Tech

WWDC 2025 Highlights: Apple Unveils iOS 26, macOS 26 and Liquid Glass UI

June 9, 2025
Off The Cuff

Access to reach

June 9, 2025
Copyright © 2025 Bharat Times
Theme by: Theme Horse
Proudly Powered by: WordPress